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Largo Resources Signs Term Sheet With Banco Itau BBA S.A.
Jul. 12, 2010 01:24PM PST
Industrial Metals Investing
Largo Resources Ltd. (TSX VENTURE:LGO) announced that Vanadio de Maracas Ltda., a 100% owned Brazilian subsidiary of Largo Resources, has entered into a term sheet with Banco Itaú BBA S.A., a subsidiary of Itaú Unibanco Group and one of Brazil’s leading investment banks, for a loan facility in the principal amount of up to US$162 million, subject to the terms there proposed, for the development of its Maracas Vanadium Project in Bahia State, Brazil.
Largo Resources Ltd. (TSX VENTURE:LGO) announced that Vanadio de Maracas Ltda., a 100% owned Brazilian subsidiary of Largo Resources, has entered into a term sheet with Banco Itaú BBA S.A., a subsidiary of Itaú Unibanco Group and one of Brazil’s leading investment banks, for a loan facility in the principal amount of up to US$162 million, subject to the terms there proposed, for the development of its Maracas Vanadium Project in Bahia State, Brazil.
The press release is quoted as saying:
Largo Resources Ltd. is a Canadian natural resource development and exploration company with two advanced stage projects: the Maracas Vanadium-PGM deposit in Brazil and the Northern Dancer Tungsten-Molybdenum deposit in the Yukon. The Company also owns the Campo Alegre de Lourdes Vanadium exploration project in Brazil. The company is listed on the TSX Venture Exchange under the symbol LGO.
Click here to access the entire press release