Largo Resources Ltd. today announces that its Board of Directors has continued its detailed evaluation of the overall business environment and opportunities for Largo to create long-term value for its stakeholders. As a result, the Board and management team have decided to continue to prioritize the optimization of production at the Maracás Menchen Mine and make the required strategic investment to build the [...]
Largo Resources Ltd. is pleased to announce that Mr. Paul Vollant will be joining the Largo team as Director of Sales and Trading effective September 2019. In this position, Mr. Vollant will lead the development of Largo's sales and trading business and work to further enhance the Company's presence in the Global Vanadium Corp. market. Mark Smith, Chief Executive Officer of Largo stated: "We are very excited to welcome [...]
Largo Resources Ltd. is pleased to announce an update on the Novo Amparo Norte deposit in Maracás, Brazil. Highlights of the updated resource estimate for NAN: Total Measured and Indicated Mineral Resources Ltd. of 12.23 million tonnes grading 0.88% V2O5 with magnetic concentrate grades of 2.41% V2O5 Inferred Mineral Resources Ltd. of 11.33 million tonnes grading 0.90% V2O5 with magnetic concentrate grades of 2.46 [...]
Largo Resources Ltd. is pleased to announce that it has elected to redeem all of its outstanding 9.25% Senior Secured Notes due 2021 . The Notes will be redeemed on July 7, 2019 at a redemption price equal to 104.625% of the principal amount of the Notes plus accrued and unpaid interest to, but not including the Redemption Date. Largo has provided the required notice to The Bank of New York Mellon, as trustee under the [...]
Largo Resources Ltd. announces that it has repurchased approximately US$6.7 million in principal amount of its 9.25% Senior Secured Notes due 2021 . The Notes were repurchased at a purchase price of 103% of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date, pursuant to the terms of the excess cash flow offer that Largo was obligated to make to holders of Notes in [...]
All financial figures are in Canadian dollars unless otherwise stated. Q1 2019 Highlights Cash balance of $190.7 million exiting Q1 2019 Production of 2,099 tonnes of V2O5; Kiln refractory replacement completed ahead of schedule Record global V2O5 recovery rate of 80% vs. 75.6% in Q1 2018 Cash operating costs excluding royalties of $4.54 per pound V2O5 Revenues of $44.3 million in Q1 2019 Net loss of $2.2 million in Q1 [...]
Largo Resources Ltd. announces that its Q1 2019 financial results will be significantly impacted by the decline in the price of vanadium pentoxide since the start of 2019 and the impact of the remeasurement of trade receivables under the Glencore off-take agreement during the quarter, as previously discussed in its fourth quarter and full year 2018 production results press release on March 26, 2019 and in the Company's [...]
Q1 2019 V2O5 production of 2,099 tonnes, a 5% decrease from Q1 2018 Kiln refractory replacement completed ahead of schedule Global V2O5 recovery rate of 80.0% achieved in Q1 2019, a 5% increase over Q1 2018 Q1 2019 financial results conference call: Wednesday, May 15th, 2019 at 12:00 p.m. EST Largo Resources Ltd. announces first quarter 2019 production results from its Maracás Menchen Mine with 2,099 tonnes of [...]
Largo Resources Ltd. announces the appointment of Mr. Jonathan Lee to its Board of Directors as a director nominee of Arias Resource Capital Fund L.P., Arias Resource Capital Fund II L.P. and Arias Resource Capital Fund II L.P. . Mr. Lee is a Vice President with the private equity firm Arias Resource Capital Management LP. Prior to Arias Resource Capital Management, Mr. Lee worked with Ambac Assurance Corporation, a [...]
All financial figures are in Canadian dollars unless otherwise stated. Q4 2018 Highlights Net income of $108.0 million and basic earnings per share of $0.21 in Q4 2018 Revenues of $177.5 million in Q4 2018, a 262% increase over Q4 2017 and a 19% increase over Q3 2018 Cash provided before non-cash working capital items of $134.4 million in Q4 2018, an increase of $112.9 million over Q4 2017 Record production of 2,595 [...]
Largo Resources Ltd. announces that management is unaware of any material change in the Company's operations that would account for the recent increase in market activity. Largo's stock triggered the single stock circuit breaker which resulted in a temporary trading halt and trading resumed approximately 15 minutes later. Operations at the Maracás Menchen Mine are "business as usual" and we continue to produce [...]
Shareholder Conference Call with Mark Smith, CEO and Ernest Cleave, CFO will be conducted at 10:00 a.m. EDT on Wednesday, March 27, 2019 Largo Resources Ltd. will release its fourth quarter and full year 2018 financial results on Tuesday, March 26, 2019 after the close of market trading. The Company will also host a conference call on Wednesday, March 27 at 10:00 a.m. EDT. Details on the conference call are listed below [...]