Larvotto Resources (ASX:LRV) completed the first drawdown of its $105 million senior secured bond issue for $31.5 million after satisfying all conditions, according to a Friday Australian bourse filing.
All proceeds from the drawdown will be applied towards Hillgrove antimony-gold project construction in New South Wales, including the plant upgrade and development works.
The company's shares fell nearly 1% in recent trading on Friday.
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