Symbol: LGO (TSX.V)
TORONTO, Sept. 30, 2013 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that it has been named the recipient of Latin Finance magazine's Best Mining Finance Award for the funding of the Maracas Vanadium Project in 2012.
The total R$556 million transaction, which was completed in June 2012 receives the Latin Finance, Best Mining Finance award for the novel nature of the non-recourse financing structure, difficult sector related market conditions, and unique aspects of the project as well as its commodity.
Mark Brennan, President and Chief Executive Officer stated: "We are enormously excited to receive yet another award in the extremely competitive project finance world (see press release March 11, 2013). I am honored to accept this award from Latin Finance magazine and hope our shareholders and the market will again join us in recognizing the great achievement Largo has achieved in financing such a unique project in an incredibly difficult financing environment. We believe that this further should demonstrate to our shareholders and market participants the extraordinary scale and quality of the Maracas project."
See link to article abstract here, or subscribe to Latin Finance for full article: http://www.latinfinance.com/Article/3259010/Current-Issue/Best-Mining-Financing
About Latin Finance Magazine
Latin Finance is the leading source of value-added financial markets intelligence for Latin America and the Caribbean.
Published from New York and Miami, with a network of correspondents across Latin America and the Caribbean, Latin Finance has covered banking and capital markets in the region for more than two decades. It is the authoritative source on debt, equity, structured finance, syndicated loans, private equity and M&A, as well as a multilateral financing, people moves and secondary trading.
Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company. The immediate goal of the Company is to develop the Maracás Vanadium Project by Q1 2014. Largo currently holds a 100% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailings Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada. Largo's skilled management team both in Canada and Brazil, are confident in their ability to advance these projects.
Largo is listed on the TSX Venture Exchange under the symbol "LGO".
For more information please refer to Largo's website: www.largoresources.com
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 Maracas 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.
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:
Manager Business Development
President & CEO
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