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Larvotto (ASX:LRV) on Tuesday reported fresh intercepts of gold equivalent on-site at its Blacklode Prospect (part of the larger Hillgrove Antimony-Gold project) with one 15m hit at 5.24g/t gold equivalent from 42m depth the main highlight.
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Another 15m intercept and a 10m intercept were also highlighted to moderate market response; shares climbed to $1.30/ea – not far off what was offered for the company yesterday by USAC, a bid HotCopper users at least widely rejected at $1.40/sh.
(On October 15, Larvotto closed at $1.38, which appears to be where USAC may have gotten its $1.40/sh target from.) But most were keen to point out that, the way it’s going – Larvotto is definitely believed to be the WA1 to Antimony, what that stock is to former-critmin-darling niobium – many users thought that USAC were trying to get in early.
At least one user reckoned ‘$4.00 by next year,’ and in this market, it doesn’t take a calculator and P/E analysis to know that could be true. For how long’s a different question, but in terms of potential, it’s not hard to imagine.
“These latest results reinforce our optimism, with first-pass drilling at the Blacklode Prospect confirming high-grade gold and antimony intercepts, with the best result of 15m @ 5.24g/t AuEq from 42m, and additional mineralised splays and unmined halos, as seen at Eleanora,” company MD Ron Heeks said.
“Drilling is ongoing and additional drill holes have been planned to further test and define the extent of this highly prospective zone of mineralisation and other underexplored parts of the Metz system,” the company added.
USAC will be watching closely.
LRV last traded at $1.30/sh.
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