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Largo Resources Ltd. (TSXV:LGO) received the first disbursement in the approximate amount of R$66 million from the Business Development Bank of Brazil under the previously announced debt financing facility.
The Facility is for the development of Largo’s Maracas Vanadium Project in Bahia, Brazil and was previously described in its press releases dated October 31, 2011, March 8, 2012, May 15, 2012 and July 3, 2012.
Largo Resources President and Chief Executive Officer Mark Brennan said:
This is a momentous occasion for the Company and the Maracas Vanadium Project. We thank our many partners, shareholders and team for the extensive work they have contributed to see this process through to completion. The Maracas Vanadium Project is now fully funded and construction is well underway.
Click here to read the Largo Resources (TSXV:LGO) press release
Click here to see the Largo Resources (TSXV:LGO) profile
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