Largo wins Best Mining Finance Award from Latin Finance Magazine for its
Maracas Vanadium Project Financing
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
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
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.
Darcie Ladd Manager Business Development 416-861-9406 email@example.com
Mark Brennan President & CEO
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-0- Sep/30/2013 20:01 GMT
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