Largo Resources Ltd.(TSXV:LGO) announced that it has chosen Runge, Pincock, Allen and Holt to produce a Preliminary Economic Assessment for its Maracás Project. The PEA will investigate the potential for expansion at the project.
As quoted in the press release:
The PEA will address the Project’s potential to increase production capacity by 50% and will outline the resulting economic parameters of this revised scenario. It is anticipated that the results of the report will be announced by Q2, 2013.
Largo Resources, President and CEO, Mark Brennan, commented:
“We have always been optimistic that the Maracás Project had the potential to be not only a leading producer of vanadium, but also to provide significant returns to our shareholders. We have conducted our own internal investigations and are confident that an expanded production scenario will be highly accretive. The recently announced increase in resources at the project further solidifies this view and we are excited to further explore this plan through a PEA.