Largo Announces Corporate Update and New CEO

Largo Resources Ltd. (TSXV:LGO) released a corporate update on its Maracás Menchen mine and announced the appointment of Mark A. Smith as its new CEO.

As quoted in the press release:

Largo continues to optimize operations at the Project as part of its ramp-up to commercial production. The Company continues to expect to achieve Phase 1 nameplate capacity of 9,634 tonnes per annum during the Third Quarter of 2015.

In connection with this process, Largo has identified certain additional capital expenditures which will be required to be made over 2015. These expenditures will include the enhancement of the availability and recoveries of the leaching system and will accommodate future expansion.

Alberto Arias, on behalf of the company’s board of directors, stated:

The Board of Directors would like to thank Mr. Brennan for his service as President and CEO and for his many contributions to Largo.  It was his inspiration and sheer determination that led to the Company’s financing and construction of the Maracás Menchen Mine in Brazil.  Under his supervision, the Company has grown from a junior exploration company to a new vanadium producer with over 250 employees in Canada and Brazil.

The Board of Directors is also very excited to welcome Mr. Smith to lead the Largo team moving forward.  Mr. Smith has extensive experience in the mining industry and brings with him a wealth of knowledge and know-how that will be invaluable to Largo as it continues to ramp up production at the Maracás Menchen Mine.

Click here for the full Largo Resources Ltd. (TSXV:LGO) press release