TORONTO, Jan. 2, 2018 /CNW/ - Largo Resources Ltd.
("Largo" or the "Company") (TSX: LGO) (OTCQB: LGORF) is excited to announce that it has set a new
monthly production record at its Maracás Menchen Mine during the month of December 2017. The
Company produced 903 tonnes of vanadium pentoxide ("vanadium" or "V2O5") in December, surpassing by 15 tonnes the
Company's previous monthly production record of 888 tonnes set in August 2017. The production in December 2017 was 12.9% above the plant's nameplate capacity and is the result of our operating team's efforts
to enhance efficiencies and to continually improve production.
In addition as a result of strong production throughout Q4 2017, Largo has also achieved a new quarterly production record at
its Maracás Menchen Mine during Q4 2017. The Company produced 2,539 tonnes of V2O5 in Q4 2017, surpassing by 26 tonnes the
Company's previous quarterly production record of 2,513 tonnes set in Q3 2017. The production in Q4 2017 was 5.8% above the
plant's nameplate capacity.
The price range for V2O5 sales remained strong in December with the range for the week ended December
29, 2017 being posted at US$9.60/lb to US$9.90/lb (Source:
Metal Bulletin).
"I am thrilled with our 2017 operating results and look forward to a very productive 2018, said Largo's President and Chief
Executive Officer, Mr. Mark A. Smith. Mr. Smith continued, "Our sustained success, strong
production track record and ability to produce vanadium at a low cost have all resulted in Largo's emergence as a key player in
the vanadium industry. Largo's position as one of the only pure-play vanadium producers uniquely positions Largo to benefit from
the current realities of the vanadium market."
About Largo
Largo Resources Ltd. is a strategic mineral company focused on the production of vanadium pentoxide at its Vanadio de Maracás
Menchen Mine. Vanadium is primarily used as an alloy to strengthen steel and reduce its weight. Vanadium enhanced steels are used
in a vast and growing range of products that are used and encountered every day; including, rebar, automobiles, transport
infrastructure etc. As trends in the steel industry now demand increasingly stronger and lighter products for advanced
applications, the use of vanadium is expected to grow over the medium and long term. Largo also has interests in a portfolio of
other projects, including: a 100% interest in the Currais Novos Tungsten Tailings Project in Brazil; a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project in Brazil; and a 100% interest in the Northern Dancer Tungsten-Molybdenum property in the Yukon Territory, Canada. For more information, please visit www.largoresources.com.
Cautionary Notes:
This press release contains forward-looking information under Canadian securities legislation. Forward-looking
information includes, without limitation, statements with respect to completion of a listing on a U.S. stock exchange. 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". All information contained in this news release, other than
statements of current and historical fact, is forward looking information. 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. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
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. Largo undertakes no obligation to update any vanadium pricing information contained in this
press release. Largo's Readers should also review the risks and uncertainties sections of Largo's annual and interim
MD&As.
Neither the Toronto Stock Exchange (nor its regulatory service provider) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Largo Resources Ltd.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/January2018/02/c8762.html