TORONTO, Jan. 22, 2020 /CNW/ - Largo Resources Ltd.
("Largo" or the "Company") (TSX: LGO)
(OTCQX: LGORF) is pleased to announce the launch of
VPURE and VPURE+, newly developed brands for the
Company's industry preferred line of vanadium products.
Paulo Misk, President and Chief
Executive Officer of Largo stated: "Largo's vanadium products
have an exceptional industry reputation worldwide. With our
vanadium products now branded, new and existing customers can
easily identify the Company's products offered for purchase in the
market. He continued: "The Maracás Menchen Mine has a proven
track record of operational stability which allows the Company to
provide its customers with a reliable source of vanadium
supply. We look forward to becoming the industry preferred
supplier of vanadium through the sale of our VPURE and VPURE+
products."
Largo's VPURE and VPURE+ products are sourced from
one of the highest-grade vanadium deposits in the world using
proven operational technology. A summary of Largo's VPURE
and VPURE+ products and associated specifications are listed
below:
VPURE Flakes | Ferrovanadium powered by VPURE Flakes
- The VPURE brand consists of high-quality vanadium
products which are mainly used to produce ferrovanadium and
vanadium carbon nitride.
- VPURE Flakes have a guaranteed vanadium content of 98.5%
and typical vanadium content of 99.0%.
- Ferrovanadium powered by VPURE Flakes achieves grade
specifications in the range of 78.0% to 82.0% vanadium.
- Ferrovanadium powered by VPURE Flakes is essential in
the production of steel products, which make up approximately 91%
of global vanadium consumption.
VPURE+ Flakes | VPURE+ Powder
- The VPURE+ brand consists of high purity vanadium
products in the form of flakes and powder.
- VPURE+ Flake and Powder products have a guaranteed
vanadium content of 99.0% and a typical vanadium content of
99.5%.
- VPURE+ Flakes are mainly used in the production of
master alloys.
- VPURE+ Powder is ideal to produce chemicals, catalysts
and vanadium electrolyte used in the vanadium redox flow battery
(VRFB).
To access additional information regarding the specification
data sheets for VPURE and VPURE+ products, inquire
about order purchasing or learn about the various end uses
associated with vanadium, please visit
www.largoVpure.com.
VPURE Ferrovanadium
The Company's Board of Directors has approved the construction
of a ferrovanadium conversion plant at the Maracás Menchen Mine
subject to available liquidity. The construction of the Company's
own ferrovanadium conversion plant creates downstream strategic
advantages allowing Largo to supply ferrovanadium consumers
directly. The ferrovanadium conversion plant construction and
commissioning are expected to conclude in Q1 2021 at which point
Largo anticipates introducing its own ferrovanadium
product—VPURE Ferrovanadium—to the market.
About Largo Resources
Largo is a Toronto-based strategic mineral company focused
on the production of vanadium flake, high purity vanadium flake and
high purity vanadium powder at the Maracás Menchen
Mine located in Bahia State, Brazil. The Company's
common shares are principally listed on the Toronto Stock
Exchange under the symbol "LGO". For more information
on Largo, please visit our website
at www.largoresources.com.
Neither the Toronto Stock Exchange (nor its regulatory
service provider) accepts responsibility for the adequacy or
accuracy of this press release.
Forward-looking Information:
This press release contains forward-looking information under
Canadian securities legislation, some of which may be considered
"financial outlook" for the purposes of application Canadian
securities legislation ("forward-looking statements").
Forward‐looking information in this press release
includes, but is not limited to, statements with respect to Mr.
Vollant joining the management team in September and to the
expansion of the Company's in-house sales and trading capacity.
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. Readers should also
review the risks and uncertainties sections of Largo's annual and
interim MD&As which also apply.
SOURCE Largo Resources Ltd.