Australia's Larvotto Resources falls on discounted placement

Larvotto Resources

25/07/2025 03:40

** Larvotto Resources LRV.AX falls as much as 3.5% to A$0.70, lowest since July 10

** Mineral explorer receives firm commitments to raise A$60 mln ($39.5 mln) via placement

** Issue price of A$0.68 represents a 6.2% discount to last close

** Funds raised, together with the recently completed $105 mln senior secured bond issue, will be used to start operations at the Hillgrove Antimony-Gold Mine in New South Wales

** Stock last down 2.1%, trims YTD gains to 43.4%

($1 = A$1.5193)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))