Largo Resources Ltd. (TSXV:LGO) recieved the Latin American Mining and Metals Deal of the Year Award for 2012 for the Company’s Maracas vanadium project financing. This was awarded to the Company by the Project Finance Magazine.
As quoted in the press release:
The total R$556 million transaction, which was completed in June 2012, has received international recognition in the project finance deal world for its uniqueness and complexity as well as for overcoming tough financing conditions for junior miners.
Largo Resources Ltd. President and Chief Executive Officer, Mark Brennan, said:
We are enormously excited to receive such a paramount award in the extremely competitive Project Finance world. It is unusual for a project financing of our size to receive such accolades in a field which generally focuses on substantially larger scope projects. I think that this speaks to the quality of the deal Largo and our lenders completed, but also to the intricacy of its terms and the difficulty of the prevailing market conditions. I am extremely honored to have accepted this award and hope our shareholders and the market will join us in recognizing this enormous achievement.