Larvotto's First Output at Hillgrove an Important Milestone
Dow Jones
Sep 01
0115 GMT - Larvotto Resources' first production of gold and antimony concentrate from the Hillgrove mine marks an important milestone for the company at its flagship asset, says MA Moelis Australia. "In producing its first concentrate, the evidence is clear that the processing plant refurbishment process is complete and has been successful," says MA. It notes that shares in Larvotto have lagged ASX-listed producers in recent months, likely given the risks associated with the ramp-up of Hillgrove. "Recent improvements in gold price and this important production milestone should help to alleviate some investor concerns," MA says. It has a buy rating and target price of 1.50 Australian dollars on the stock. Shares are up 1.3% at A$1.145, after falling by almost 10% Monday.
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