Update on the Ongoing Exploration Program In summary we are talking about the following parts of the Maracas Menchen mine:
1) The Campbell Pit which is currently in operation until 2032 with a nameplate production capacity of 13,200T per year. Note that the current annual production guidance is 9,000T - 11,000T.
2) Northern Satellites comprising Novo Amparo Norte (NAN) and Gulari A Norte (GAN) deposits. NAN & GAN are expected to be mined / processed with an expected average production capacity of 15,900T/y from 2032 (once the Campbell Pit is depleted) to 2041. For this Largo plans to invest US$230M in a new kiln / other processing circuits in the period from 2029-2031.
3) Southern Satellites comprising Gulari A Sul, Agua Branca, Jacar, Braga, Ilha Grande, and Rio de Contas of which the mineral reserve has yet to be assessed.
Today’s NR “provides an update on the ongoing exploration program surrounding its Maracs Menchen Mine, including an initial phase of drilling conducted in 2023 and the further analysis of past exploration work completed at the Company’s Campbell Pit and exploration targets located both north and south of the Campbell Pit”.
Overall a very good vibe!