Largo provides operational update
April 10, 2014 (Source: CNW) — Symbol: LGO (TSX.V)
– Construction 99.8% complete
– Commissioning complete or underway on all systems
– Largo adds senior vanadium technical manager to operations team
Largo Resources Ltd. (“Largo” or the “Company“) is pleased to provide an operational update for its 100% owned Maracas Vanadium Project (the “Project”).
Construction of the Project is now 99.8% complete, with only the installation of auxiliary items still underway.
All systems at the Project are now either commissioned or in the final stages of commissioning.
First vanadium production is anticipated following the completion of commissioning and warm-up of the kiln.
Additionally, Largo is pleased to announce the appointment of Mr. Casper Groenewald to the position of Deputy Technical Director of Operations, Brazil.
Mr. Groenewald is a Metallurgical Engineer with over 20 years’ experience in operating and managing mining facilities across a range of commodities. His background includes over 5 years’ direct experience operating vanadium processing facilities in South Africa, including Xstrata’s Vantech operation and Highveld Steel and Vanadium. Mr. Groenewald also has extensive experience in the production and processing of platinum, steel and iron and has successfully commissioned and optimized several processing facilities.
Mr. Groenewald most recently served as Vice President of Operations for DRA America Inc., a mining engineering, project management and contract operations company where he was responsible for strategic planning, operational development and business development.
Les Ford, Largo’s Senior Vice President and Technical Director of Brazilian Operations, and a prominent vanadium expert, stated: “We are extremely pleased to welcome Casper to the Largo team. We are particularly excited to add further vanadium expertise to the operations team and likewise believe that his past experience in both platinum and iron ore will prove to be valuable assets as we move forward.”
He continued: “Having worked with Mr. Groenewald at vanadium operations before, I believe that he is an extremely valuable addition to our operational team at the project. His added vanadium experience, as we are currently transitioning into production, will certainly enhance our capability to ramp-up effectively and achieve stable operations at the plant.”
Largo is a growing strategic mineral company with projects in Brazil and Canada. The immediate goal of the Company is to bring its Maracás Vanadium Project to production in 2014. Largo also has interests in a portfolio of other projects, including: a 100% interest in the Currais Novos Tungsten Tailings Project in Brazil, which the Company continues to develop; a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project in Brazil; and a 100% interest in the Northern Dancer Tungsten-Molybdenum property in the Yukon Territory, Canada.
Largo is listed on the TSX Venture Exchange under the symbol “LGO”.
Mr. Michael Mutchler, Chief Operating Officer to Largo and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this press release.
For more information please refer to Largo’s website: www.largoresources.com
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This press release contains forward-looking information under Canadian securities legislation. forward-looking information includes, but is not limited to, statements with respect to completion of the private placement, Largo’s development potential and timetable of the Maracás and Northern Dancer projects; Largo’s ability to raise additional funds necessary; the future price of tungsten and molybdenum; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Largo to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo’s annual and interim MD&As.
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