Business
Largo Resources Provides Operational Update; Reports Strong V2O5 Production of 3,260 Tonnes in Q3 2021
TORONTO / Oct 20, 2021 / Business Wire / Largo Resources Ltd. ("Largo" or the "Company") (TSX:LGO) (NASDAQ:LGO) announces quarterly production of 3,260 tonnes (
About this update from Largo Inc.
[{"type":"text","content":"TORONTO / Oct 20, 2021 / Business Wire / Largo Resources Ltd. (\"Largo\" or the \"Company\") (TSX:LGO) (NASDAQ:LGO) announces quarterly production of 3,260 tonnes (7.1 million lbs1) of vanadium pentoxide (“V2O5”) and sales of 2,685 tonnes of V2O5 equivalent from its Maracás Menchen Mine in Q3 2021. Paulo Misk, President and Chief Executive Officer of Largo, stated: “The Company remains well positioned to continue making headway on the suite of value-add projects in our pipeline. This quarter we received a NTP on our first battery sales contract with Enel and are progressing on schedule with the build out of LCE’s product development and stack manufacturing facility in Massachusetts with an expected annual capacity of 1.4 GWh. We look forward to a strong finish to the year and remain fully committed to driving the world’s transition to a low-carbon future through innovative energy storage solutions powered by our responsibly produced vanadium.” He continued: “On the operational front, our performance improved in Q3 2021 as highlighted by a 5% increase in production over Q3 2020 and a 6% increase over Q2 2021. The strong production performance during the quarter was largely driven by increased throughput and improved recoveries following the completion of the Company’s expansion project in Q2 2021. Despite improved production results and steady vanadium demand in all regions, the Company experienced logistical challenges which resulted in lower sales for the quarter.” A summary of the Company’s Q3 2021 production and sales results is presented below: Maracás Menchen Mine Production and Sales Q3 2021 Q2 2021 Q1 2021 Q3 2020 Total Ore Mined (tonnes) 366,484 340,734 263,966 287,969 Ore Grade Mined - Effective Grade (%)2 1.10 1.15 1.22 1.28 Concentrate Produced (tonnes) 113,879 98,372 100,467 104,921 Grade of Concentrate (%) 3.32 3.23 3.21 3.32 Global Recovery (%)3 83.7 79.9 77.4 84.2 V2O5 produced (Flake + Powder) (tonnes) 3,260 3,070 1,986 3,092 V2O5 prod...