RE: RE: RE: Largo Provides an Update on the StatusHi detlion.
Maybe they still have some drill targets they want to hit...... they said the scoping study was deferred but didn't say they wouldn't be drilling this summer. What I really think it had to do with was they still had some flow through room in 2008 (the financing closed on Dec 31, 2008 and said the funds would be renounced for the 2008 year) so they did the FT to benefit from that.
We are seeing the signs of cash conservation here so hopefully they can stretch this current cash out as long as possible until the economy improves. Probably means not much upside in the short term unless the respective metal prices move up a fair bit or there are significant developments on Maracas (Localization License issued or new option deal inked on the remaing 40% of the project would be in that category).
ND resource estimate could give a bit of strength to the price if there is a good move of the resource to measured and indicated from indicated and inferred but without a scoping study we won't get any big moves IMO. Also any positive moves in the deposit grade and or tonnage would be nice which I expect a bit of both in the new report.
A JV deal on ND to encompass the upcoming April $5MM option payment for the remaining 30% of that project would be very positive, although without a scoping study I'm not too optimistic anything will pan out. Hard to say on that one.....
Anyways, they are still hanging on and Maracas looks to be moving forward albeit slowly.
lurk