Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Largo Inc T.LGO

Alternate Symbol(s):  LGO

Largo Inc. is a Canada-based producer and supplier of vanadium products. The Company’s segments include sales & trading, mine properties, corporate, exploration and evaluation properties (E&E properties), Largo Clean Energy and Largo Physical Vanadium. Its VPURE and VPURE+ products, which are sourced from one of the vanadium deposits at the Company's Maracas Menchen Mine in Brazil. The Company is also focused on the advancement of renewable energy storage solutions through Largo Clean Energy and its vanadium redox flow battery technology (VRFB). The Company is also engaged in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations, in addition to advancing its United States-based clean energy division with its VCHARGE vanadium batteries. VPURE+ Flakes are used in the production of master alloys, where it provides high strength-to-weight ratios for the titanium alloy and aerospace industries.


TSX:LGO - Post by User

Bullboard Posts
Post by AlS412on Dec 12, 2018 10:29pm
117 Views
Post# 29107330

Debt reduction

Debt reductionLargo Resources Announces Repurchase of US$16.2 Million of its 9.25% Senior Secured Notes Due 2021 December 12, 2018 TORONTO, Dec. 12, 2018/CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) announces today that it has repurchased and retired US$16.2 million in aggregate principal amount plus premium and accrued and unpaid interest in consideration for the payment of US$17 million in cash. Following this repurchase for cancellation the remaining aggregate principal amount outstanding on the Company's 9.25% Senior Secured Notes due 2021 (the "Notes") is US$118.8 million, representing a decrease of approximately 12%. The Notes were repurchased at 104.25% which is well below the premium the Company would have been required to pay pursuant to the repurchase mechanisms set out in the indenture governing the Notes. The Company worked with Jefferies LLC who arranged for and facilitated the repurchase of the Notes. Mark Smith, Chief Executive Officer for Largo, stated: "We are very pleased that when the opportunity arose, Largo's solid balance sheet and liquidity allowed the Company to repurchase and retire a portion of its outstanding Notes in a timely manner. Going forward, Largo will continue to look for strategic investments that yield significant returns on investment while at the same time maximizing the Company's shareholder value."
Bullboard Posts

USER FEEDBACK SURVEY ×

Be the voice that helps shape the content on site!

At Stockhouse, we’re committed to delivering content that matters to you. Your insights are key in shaping our strategy. Take a few minutes to share your feedback and help influence what you see on our site!

The Market Online in partnership with Stockhouse