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LRV - Larvotto Resources

Dona Ferentes

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Larvotto Resources Limited (ASX Code: LRV) lodged a prospectus to raise up to $6 million and list on ASX. The offer in the prospectus was for 30 million shares at an offer price of $0.20 per share, with an attaching option on a one for two basis and a 3 year term.

Larvotto is an emerging exploration company with a portfolio of copper, cobalt and gold projects operating in Australia and New Zealand. The Company has three project areas;
  • Mount Isa, Queensland, focused on copper, gold and cobalt,
  • the Eyre Project directly east of Norseman, WA with nickel, gold, copper and PGE potential,
  • an advanced epithermal gold opportunity in the north island of New Zealand.
Larvotto Managing Director, Mr Ron Heeks, said at the launch of the PDS:
With an ASX listing nearly complete, the company will commence work on its Mt Isa Copper project, New Zealand based Ohakuri Gold project and West Australian gold and base metals project at Eyre, east of Norseman.

Listed today, opened at 14c and keeping well off the IPO price, with the high so far of 14.5c

Listing date06 December 2021 ; 12:30PM AEDT ##
Company contact detailshttps://www.larvottoresources.com/
Ph: +61 (08) 6373 0112
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeLRV
Capital to be Raised$5,000,000
Expected offer close date16 November 2021
UnderwriterNot underwritten. Canaccord Genuity (Australia) Limited and Aitken Murray Capital Partners (Joint Lead Managers)
 

greggles

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Larvotto Resources up 33% to 16c today on news that they are targetting lithium and base metals at their Eyre Project in WA via a geochemical sampling program that is due to commence "in early January 2022". Just the mention of lithium was enough to get the share price moving this morning, but the Eyre Project is in infancy and the market may be getting ahead of itself here.

it's good news, but without some kind of follow up announcmement I expect that the share price will soften in the coming days as traders exit.

LRV need to format their announcements a little better. Their padding and border settings are out of whack with this one, and it's not a good look.

LRV060122.png
 

bk1

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Just the mention of lithium was enough
Going to be a theme for some time i think, i followed this one in from the IPO. I don't normally buy at going public, but took the hint from Lowell Resources and bought a couple of days after launch.
All these juniors are going to have to be creative when it comes to developing base metal projects effectively without being sidetracked by the hint of Lithium.
 

bk1

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Thats two days now of above average volume, in fact double the usual average.
Exploring for base metals (Mt Isa ) and Lithium (Norseman, WA), close to Liontown's Buldania deposit.
 

bk1

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Huge volume today with no news, nothing i could see, not the first time this has happened either.
I took some profit accordingly, and trimmed the position today.
Lowell Resources are the largest shareholder and Soul Patts are in the top 20 too.
I'm assuming its rumours of Lithium to make the price jump that much.
 

Dona Ferentes

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Response:
  • An article published by mining journalist Barry Fitzgerald in an on-line article in Livewire on 14 April 2022 highlighted the Company’s portfolio inclusive of copper, gold and lithium, and associated current commodity prices, which may be a factor in the share price and trading performance of the Company.
  • On 6 April 2022 the Company announced that it had applied for an exploration licence adjoining its Eyre Project in Western Australia, adjoining other nearby lithium prospects, and on 4 April 2022 provided a Corporate Presentation summarising the Company’s key projects.
  • The Company announced on 10 March 2022 that drilling will commence at it’s Ohakuri gold project, located in the North Island of New Zealand. Although drilling has commenced, there are as yet no results to report. The Company will report results accordingly when they have been received and compiled.
- and , some scurrilous chatfeed somewhere?
 
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