Largo to host inauguration ceremony at Maracás Vanadium Project - receives Preliminary Operating License for production
Symbol: LGO (TSX.V)
TORONTO, May 20, 2014 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that it will host an inauguration ceremony at the Maracás Vanadium Project in Bahia, Brazil this coming Wednesday, the 21st of May.
High level officials from the Federal Government of Brazil, the state of Bahia, the town of Maracás as well as Largo's investors, project partners and other stakeholders will join Largo to officially inaugurate the mining facility.
Largo encourages all interested parties to follow its Twitter, Facebook, and Instagram feeds during the event on the 21st of May.
Additionally, Largo announces that it has received its Preliminary Operating License for production at the Maracás Vanadium Project (the "Licença Prévia de Operação" or "L.P.O.").
The L.P.O. is issued following the completion of commissioning and in advance of the final operating license ("L.O.") in order to provide the required time for production ramp-up to full capacity and to adjust parameters necessary to meet design specification. Given that Largo is in compliance with all matters pertaining to its facility, it is anticipated that receipt of the final L.O. will occur within 180 days of this announcement.
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.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE Largo Resources Ltd.For further information: Darcie Ladd, Manager Business Development, 416-861-9406, email@example.com; Mark Brennan, President & CEO