Larvotto Resources Limited (LRV) AI Stock Analysis

• Market Cap: AU$557.07M
• Dividend Yield: N/A
• Average Volume (3M): 8.72M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.31
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): -0.03
• Shares Outstanding: 518,201,700
• 10 Day Avg. Volume: 12,434,552
• 30 Day Avg. Volume: 8,724,777
• PEG Ratio: 0.29
• Price to Book (P/B): 4.37
• Price to Sales (P/S): 320.60
• P/FCF Ratio: -12.56
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.1
• Revenue Forecast (FY): AU$109.00M

• Rating: 53 Neutral
• Price Target: AU$1.50 ▲(27.12% Upside)
• Action: Reiterated Date: 01/22/26
• Date: Action: Reiterated 01/22/26

The score is held back primarily by weak financial performance (deep losses and accelerating cash burn, with rising debt risk). Technicals are a key offset with strong upward momentum and price above major moving averages, though overbought signals temper the outlook. Valuation is also constrained by negative earnings and no dividend support.

Positive Factors

Balance Sheet Strength

A meaningful equity base and only moderate leverage provide durable financial flexibility for a junior explorer. This supports ongoing resource definition drilling and technical studies without immediate insolvency risk, improving runway to advance projects or secure JV funding over the next several months.

Revenue Rebound

A clear year-over-year revenue rebound indicates improving commercial traction or project progress rather than monotonic decline. If sustained and paired with cost control, this trend can translate into scaling operations and a path toward narrowing losses, materially improving the company's funding profile over 2-6 months.

Focused Gold Exploration Model

A concentrated business model focused on gold exploration/development creates operational clarity and levered upside from any successful resource discovery. Specialization can improve capital allocation to high-probability drill targets and attract partner/joint-venture capital in a sector with persistent structural demand for gold assets.

Negative Factors

Sustained Unprofitability

Persistent gross and operating losses erode shareholder equity and indicate the business is not yet generating scalable margins. Over several months this undermines internal funding capacity, raises the likelihood of dilutive capital raises, and makes it harder to attract low-cost external financing needed to advance development milestones.

Accelerating Cash Burn

Consistent negative operating and free cash flows with accelerating cash burn create a structural funding gap. This forces reliance on external capital or asset sales to continue exploration work, increases dilution risk, and can delay or curtail drilling and technical programs that are critical to creating long-term value.

Rising Debt Risk

A recent step-up in debt when the company remains loss-making increases fixed obligations and reduces strategic flexibility. Higher leverage raises interest and covenant risk, making the firm more vulnerable to funding shocks and potentially forcing unfavorable financings or asset disposals that impair long-term project value creation.

Larvotto Resources Limited Business Overview & Revenue Model

Company Description

Larvotto Resources Limited engages in the acquisition, exploration, evaluation, and development of mineral resources in Australia and New Zealand. The company explores for copper, gold, cobalt, nickel, and lithium deposits, as well as platinum group elements. It holds 100% interests in the Mt Isa Copper project covering an area of approximately 900 square kilometers located in the Mt Isa region, Queensland; and Eyre project covering an area of approximately 580 square kilometers located in the Kalgoorlie region, Western Australia. The company also holds an option to acquire a 75% interest in the Ohakuri project covering an area of 25.78 square kilometers located on North Island, New Zealand. Larvotto Resources Limited was incorporated in 2020 and is headquartered in Nedlands, Australia.

How the Company Makes Money

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Larvotto Resources Limited Financial Statement Overview

Summary

Overall financials are weak: the company remains deeply unprofitable with a gross loss and large operating/net losses, and cash flow is consistently negative with accelerating burn. The balance sheet is a relative bright spot with a meaningful equity base and modest leverage, but rising debt alongside widening losses increases funding and execution risk.

Income Statement

Revenue is volatile (2022 was much higher, then fell sharply in 2023 before rebounding in 2024), but the company remains deeply unprofitable. In 2024 the business generated a gross loss and very large operating and net losses, with net margin worsening versus prior years, indicating costs are far out of line with the current revenue base. The key positive is the strong year-over-year revenue rebound in 2024, but it is not yet translating into improving profitability.

Balance Sheet

The balance sheet shows a meaningful equity base and moderate leverage in 2024 (debt is modest relative to equity), which provides some financial flexibility. However, returns on equity are materially negative, reflecting ongoing losses and weak value creation. A notable risk is the step-up in debt from prior years (which had no debt), increasing financial pressure if losses persist.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative across all years shown and cash burn accelerating in 2024 versus 2023. While free cash flow tracks net losses closely (cash burn broadly consistent with reported losses), there is no evidence yet of a turn toward self-funding operations. The main strength is the consistency between earnings losses and cash outflow (limited sign of earnings being overstated by non-cash items), but the magnitude of ongoing burn is a clear concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.40M	426.10K	67.91K	1.41M	0.00	0.00
Gross Profit	910.44K	-192.28K	4.99K	1.39M	-4.45K	0.00
EBITDA	-20.51M	-13.25M	-4.98M	-1.94M	-1.51M	-62.24K
Net Income	-21.48M	-13.62M	-6.42M	-1.96M	-1.51M	-62.24K
Balance Sheet
Total Assets	53.93M	44.41M	17.17M	7.93M	5.90M	140.02K
Cash, Cash Equivalents and Short-Term Investments	26.58M	27.97M	2.43M	6.46M	4.67M	130.00K
Total Debt	6.25M	6.53M	0.00	0.00	0.00	0.00
Total Liabilities	15.56M	13.12M	5.85M	106.91K	234.91K	196.26K
Stockholders Equity	38.37M	31.29M	11.32M	7.83M	5.67M	-56.24K
Cash Flow
Free Cash Flow	-24.52M	-10.87M	-5.99M	-2.01M	-1.79M	-62.24K
Operating Cash Flow	-15.92M	-10.79M	-5.74M	-1.80M	-1.63M	-62.24K
Investing Cash Flow	-8.94M	-415.04K	-5.38M	-281.25K	-159.33K	0.00
Financing Cash Flow	51.06M	36.79M	7.09M	3.88M	6.33M	780.00K

Larvotto Resources Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CEL	56 Neutral	AU$339.54M	4.86	13.06%	―	―	―
LRV	53 Neutral	AU$557.07M	-5.72	-61.67%	―	―	―
STK	52 Neutral	AU$460.58M	-55.50	0.41%	―	―	―
29M	48 Neutral	AU$594.08M	34.64	-8.58%	―	28.45%	79.93%
MTM	42 Neutral	AU$390.53M	-6.45	-117.09%	―	―	-186.15%

Larvotto Resources Limited Corporate Events

Larvotto Resources Issues Over 2.1 Million Unquoted Performance Rights

Larvotto Resources Limited has issued 2,145,634 unquoted performance rights under its employee incentive scheme, effective 13 March 2026. These performance rights are subject to transfer restrictions and will not be quoted on the ASX until those restrictions expire, indicating a focus on retaining and incentivising key personnel through equity-based compensation.

The issuance of unquoted, restricted performance rights suggests Larvotto is aligning employee rewards with long-term company performance rather than immediate market liquidity. This capital management move may help strengthen staff engagement and support the company’s strategic objectives without diluting its currently quoted share base in the short term.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Resources Cuts 18,000 Unvested Performance Rights From Capital Structure

Larvotto Resources Limited has notified the market of changes to its issued capital following the lapse of 18,000 performance rights. These rights, identified as LRVAH, ceased on 26 February 2026 because the conditions attached to them were not met or were no longer capable of being satisfied.

The cessation of these performance rights marginally reduces the company’s potential future share dilution and signals that specific performance or vesting hurdles were not achieved. While the number of rights is relatively small, the adjustment provides investors with updated information on Larvotto’s capital management and the status of its incentive structures.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Builds Experienced Team as Hillgrove Antimony-Gold Project Targets 2026 Production

Larvotto Resources is advancing its Hillgrove Antimony-Gold Project in Australia, with first production targeted for mid-2026 as it seeks to become one of the country’s next critical mineral producers. The company has assembled an experienced board and management team, including a non-executive chair with extensive investment banking and mining engineering credentials, a managing director with decades of operational and exploration experience, and an ESG-focused non-executive director, supported by dedicated exploration, operations, and financial executives to drive development of the project.

The emphasis on both technical mining expertise and environmental, social, and governance capabilities suggests Larvotto is preparing for a commercially focused and sustainability-aware ramp-up of the Hillgrove operation. This structure is likely intended to strengthen stakeholder confidence, enhance access to capital, and improve the company’s positioning within the critical minerals sector as production approaches.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Issues New Shares on Vesting of Performance Rights Under Incentive Plan

Larvotto Resources has confirmed that 184,091 performance rights granted under its Long-Term Incentive Plan have vested and been exercised, resulting in the issue of an equivalent number of ordinary shares. The new shares were issued under ASX Listing Rule exceptions and did not consume the company’s placement capacity, with Larvotto affirming ongoing compliance with corporate and continuous disclosure obligations.

The company also stated that there is no undisclosed information that investors would reasonably require to assess its financial position, prospects, or the rights attached to the new shares. This clarification reassures stakeholders that the modest increase in share capital arises from management and staff incentives and does not reflect a broader capital raise or change in funding strategy.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Seeks ASX Quotation for Employee Incentive Shares

Larvotto Resources Limited has applied for quotation on the ASX of 184,091 fully paid ordinary shares, with the securities dated 26 February 2026. These shares were previously issued under an employee incentive scheme, and the move to quote them increases the freely tradable stock on market, modestly enhancing liquidity for existing and new shareholders.

The additional quotation reflects the vesting or cessation of trading restrictions on incentive securities issued to staff, aligning employee interests with those of investors. While the number of new quoted shares is relatively small, the action underscores Larvotto’s ongoing use of equity-based remuneration as part of its capital management and employee retention strategy.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Targets Near-Term Antimony-Gold Production to Tap Critical Minerals Demand

Larvotto Resources has highlighted its Hillgrove antimony-gold project as the foundation for becoming one of Australia’s next critical mineral producers within about five months. The company emphasizes significant exploration upside across its Australia-wide portfolio, aiming to capitalise on strong gold and tungsten prices and strengthen Western supply security for antimony.

This strategic focus positions Larvotto to benefit from growing demand for critical minerals vital to industrial and defence supply chains. Investors and stakeholders are likely to view the company’s timeline to production and diversified exposure to gold, tungsten and antimony as key drivers of future growth and competitive advantage.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Drilling Extends High-Grade Gold-Antimony-Tungsten at Hillgrove’s Freehold Prospect

Larvotto Resources has reported further strong diamond drilling results from the Freehold prospect at its Hillgrove Antimony-Gold Project, confirming broad, high-grade gold-antimony-tungsten mineralisation across multiple lodes and demonstrating continuity of historically mined Au-Sb-W systems. The latest intercepts, including several multi-gram gold-equivalent and high-grade tungsten intervals, enhance the scale and continuity of the mineralised system and support the company’s strategy to establish a new underground mining centre at Freehold, located just 1.2km from the existing Hillgrove processing plant, with drilling also advancing at the Metz and Swamp Creek prospects to unlock the wider potential of the Hillgrove mineral field.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Advances Hillgrove Restart and Expands Copper Pipeline as Cash Position Strengthens

Larvotto Resources’ December quarter update underscores rapid progress at its Hillgrove antimony-gold project, where plant refurbishment is on schedule and budget, underground development has commenced with PYBAR Mining Services, and a series of high-grade drilling results continue to confirm the scale and quality of the mineralised system, including significant associated tungsten that metallurgical test work indicates could become a third revenue stream. The company also strengthened its growth pipeline by securing an exclusive option over the historic Blockade Copper Mine at Mt Isa and starting a validation and extension drilling program, while rejecting a non-binding takeover approach from US Antimony Corporation and maintaining a strong funding position with A$70.3 million in cash and an undrawn A$109.8 million bond facility to underpin the planned restart of Hillgrove production in mid-2026, positioning Larvotto as a key future supplier of critical antimony outside China.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Advances Hillgrove Restart and Broadens Critical Minerals Growth Pipeline

Larvotto Resources has reported steady operational progress across its Australian project portfolio, led by the Hillgrove antimony-gold project where processing plant refurbishment remains on budget and on schedule, underground development and site rehabilitation are under way, and workforce build-up is continuing ahead of a planned restart of production in mid-2026. At the Eyre project in Western Australia, the company has completed metallurgical aircore drilling to collect rare earth element samples, with testwork now in progress to evaluate processing and recovery options, while at Mt Isa it is advancing due diligence on the proposed Blockade Copper Mine acquisition and has finished over 4,000 metres of reverse circulation drilling with assay results pending; collectively these initiatives are intended to position Larvotto as a near-term antimony producer with additional growth leverage to copper and rare earths amid supportive commodity prices and government backing for critical minerals.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Converts 100,000 Performance Rights Into Ordinary Shares Under Incentive Plan

Larvotto Resources Limited has converted 100,000 vested performance rights into an equivalent number of ordinary shares under its Long-Term Incentive Plan following a resolution of the board. The newly issued shares, for which an application for quotation has been lodged with the ASX, were issued under ASX Listing Rule exceptions and did not consume the company’s existing placement capacity, with Larvotto confirming it remains compliant with its continuous disclosure and financial reporting obligations and that no additional material information relevant to investors’ assessment of the company or the new shares has been withheld.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Seeks ASX Quotation for 100,000 New Ordinary Shares

Larvotto Resources Limited has applied to the ASX for quotation of 100,000 new fully paid ordinary shares under its issuer code LRV. The new securities, issued on 15 January 2026 following the exercise or conversion of existing options or other convertible securities, modestly increase the company’s quoted share capital and reflect ongoing utilisation of equity-based instruments within its capital structure.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Backs Canberra’s Critical Minerals Push as Hillgrove Antimony Project Advances

Larvotto has welcomed the Australian Government’s $1.2 billion Critical Minerals Strategic Reserve, which has prioritised antimony alongside gallium and rare earths to secure long-term supplies for Australia and allied nations. The move underscores the strategic significance of Larvotto’s Hillgrove Antimony-Gold Mine, expected to begin production in mid-2026 and supply an estimated 5–7% of global antimony output, with a fully funded $150 million plant upgrade, around 225 ongoing jobs at full production, and meaningful economic benefits for the Northern Tablelands region while the company works with NSW authorities to finalise permitting.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Drilling Extends High-Grade Antimony-Gold at Metz Mining Centre

Larvotto Resources has reported multiple high-grade gold-antimony and associated tungsten intercepts from diamond drilling at the Blacklode Prospect within the Metz Mining Centre, part of its Hillgrove Antimony-Gold Project in New South Wales. The new results, which include wide, consistent mineralised zones and near-surface high-grade intercepts that extend the western reach of the Metz system and confirm continuity in previously unmodelled splays, will feed into a planned 2026 resource and reserve upgrade, underscoring the potential to expand the project’s scale and improve its economic outlook for stakeholders.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Drilling Confirms High-Grade Antimony-Gold and Tungsten at Hillgrove’s Clarks Gully

Larvotto Resources has reported strong diamond drilling results from the Clarks Gully prospect at its Hillgrove project, confirming significant antimony-gold mineralisation at depth and along strike, particularly to the north, and demonstrating a strong correlation between shallower mineralisation and a resistivity geophysical anomaly. The latest intercepts, including high-grade antimony-gold and associated tungsten zones and the identification of a possible new parallel lode, reinforce the growth potential of Hillgrove, validate the company’s geophysical targeting strategy, and highlight additional near-mine upside that could enhance the project’s resource base and future development options.

The most recent analyst rating on (AU:LRV) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Larvotto Resources Limited stock, see the AU:LRV Stock Forecast page.

Larvotto Starts Underground Development to Restart Hillgrove Antimony-Gold Mine

Larvotto Resources Limited has commenced underground development at its Hillgrove Antimony-Gold Project in New South Wales, following the mobilisation of contractor PYBAR Mining Services to site. The works, starting in the Metz zone and progressing to Garibaldi, form part of a planned 20km underground development program over an initial four-year term and include decline and lateral development, rehabilitation, ground support and haulage. With over 70 Larvotto employees and around 80 third-party personnel now on site, the development marks one of the final steps toward restarting underground mining and supplying ore to the Hillgrove processing plant, underscoring the company’s transition from project preparation into full execution and near-term production.

Larvotto Resources Announces Vesting of Employee Performance Rights

Larvotto Resources Limited announced the vesting of 693,410 employee performance rights, which were contingent upon two years of continuous service. This development is part of Larvotto’s Long Term Incentive Plan, reflecting the company’s commitment to rewarding employee loyalty and aligning staff incentives with corporate goals.

Larvotto Resources Announces Cessation of Securities

Larvotto Resources Limited has announced the cessation of certain securities, specifically the expiration of options set to expire on December 16, 2025, without being exercised or converted. This cessation involves 694,159 securities and reflects a routine adjustment in the company’s issued capital, which may impact the company’s financial structuring and stakeholder interests.