Updated Life of Mine PlanHope ?
TORONTO--(BUSINESS WIRE)-- Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce it has filed its National Instrument 43-101 (“NI 43-101”) technical report titled An Updated Life of Mine Plan (“LOMP”) for Campbell Pit and Pre-Feasibility Study for GAN and NAN Deposits, dated December 16, 2021 (the “Technical Report”), in respect of the Company’s Maracs Menchen Mine in Brazil. The Technical Report supports the disclosure made by the Company in its press release dated November 3, 2021.
Technical Report Highlights
- Enhanced Profitability and Market Competitiveness: The phased operational approach outlined in the Technical Report is expected to unlock the ability to allocate operating costs between vanadium pentoxide (“V2O5”) and titanium dioxide (“TiO2”) in a manner that is expected to drive increased market competitiveness
- Technical Report Indicates $2.8 Billion Pre-Tax / $2.0 Billion After-Tax NPV7% and $5.8 Billion Pre-Tax / $4.2 Billion After-Tax Life of Mine Cash Flow: The materially enhanced Company profitability forecasted by the Technical Report is driven by expanded V2O5 production and incremental cash flows generated by the production and sale of TiO2 pigment as a co-product
- Updated Mine Life of 20 Years: Total operating mine life for the Maracs Menchen Mine of 20 years following extensive drilling and engineering work performed at the Campbell Pit, and at the Novo Amparo Norte and Gulari A Norte deposits, in addition to the inclusion of TiO2
- Expansion of Vanadium Operations: Current nameplate production capacity of 13,200 tonnes per annum expected to increase to an approximate average of 15,900 tonnes per annum in 2032
Paulo Misk, President and CEO of Largo, stated
: “The phased operational scenarios outlined in our Technical Report are expected to further support the optimization of the Maracs Menchen Mine and unlock an opportunity to deliver significantly enhanced cash flow and drive increased market competitiveness of the Company’s products. We believe these results demonstrate a clear and profitable path forward for Largo, one that is aligned with our strategy and is expected to create significant value for our shareholders.”