Largo Resources Reports Second Quarter 2018 Production Results
PRESS RELEASE July 10, 2018
Largo Resources Reports Second Quarter 2018 Production Results
• Total production of 2,458 tonnes of V2O5 in Q2 2018, a 13% increase over Q2 2017 and a 11%
increase over Q1 2018
• New average daily production record for June of 29.4 tonnes of V2O5 produced per day
• Overall V2O5 recovery rate of 79.2% achieved in Q2 2018
TORONTO – Largo Resources Ltd. ("Largo" or the " Company") (TSX: LGO) (OTCQX: LGORF) is pleased to
report second quarter 2018 production results highlighting a new average daily production record of 29.4 tonnes
of vanadium pentoxide (“V2O5”) produced per day in June.
Total production from the Maracás Menchen Mine in the second quarter of 2018 was 2,458 tonnes of V2O5
representing a 13% increase over Q2 2017 and an 11% increase over Q1 2018. Overall V2O5 recovery rates for
Q2 2018 averaged 79.2%, which represents an increase of 6.6% against Q2 2017, and an increase of 4.3% against
Q1 2018. The Company is very pleased to report it has achieved a new daily average production record for the
month of June with 29.4 tonnes of V2O5 produced per day. Total concentrate produced in Q2 2018 was 85,639
tonnes compared to 88,186 in Q2 2017 representing a decrease of 2.9%.
A summary of production results from the Maracás Menchen Mine is presented below:
Maracás Menchen Mine Production Q2 2018 Q1 2018 Q2 2017
Overall V2O5 Recovery Rate (%V2O5) 79.2% 75.9% 74.3%
Concentrate produced (tonnes) 85,639 77,222 88,186
Grade of Concentrate (% V2O5) 3.37% 3.56% 3.28%
Contained V2O5 (tonnes) 2,889 2,747 2,893
V2O5 flake produced (tonnes) 2,458 2,214 2,183
V2O5 produced (equivalent pounds)1 5,418,956 4,881,029 4,812,685
1. Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.
Mr. Smith, President and Chief Executive Officer of Largo, stated: "The Maracás Menchen Mine continued to
provide solid production results for the second quarter of 2018 representing a sound improvement over Q1 2018.
Although production during the month of May was slightly impacted as a result of Brazil’s country-wide
truckers’ strike, our team was able to take advantage of the downtime to complete maintenance across the
plant.”
Mr. Smith continued: “V2O5 prices continued to edge higher with the latest European Metal Bulletin price range
posted during the week of July 6 being US$18.50-$19.00/lb, which puts us in a good starting position for the
third quarter. Management continues to remain very optimistic for the year ahead as the Company begins the
construction phase of the Maracás Menchen Mine expansion plan which will see capacity increase at the mine
from a total of 800 tonnes produced per month of V2O5 to 1,000. We look forward to providing the market with
updates as the expansion plan construction commences.”
Mr. Robert Campbell M.Sc, P.Geo is a Qualified Person as defined under National Instrument 43-101 Standards
of Disclosure for Mineral Projects and has reviewed the technical information in this press release.
About Largo Resources
Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity
vanadium flake and high purity vanadium powder at the Maracás Menchen Mine located in Bahia State, Brazil.
The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "LGO".
For more information on Largo, please visit our website at www.largoresources.com.
Cautionary Note:
Readers are cautioned that Metal Bulletin pricing should be considered only as indicative pricing for the global
vanadium market, Metal Bulletin pricing does not directly reflect the price realized by the Company for a
corresponding period.
Forward-looking Statements
This press release contains forward-looking information under Canadian securities legislation. Forward-looking
statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in
this news release, other than statements of current and historical fact, is forward looking information. Forward-
looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the Largo to be materially different from those
expressed or implied by such forward-looking statements, including but not limited to those risks described in the
annual information form of Largo and in its public documents filed on SEDAR from time to time. Forward-looking
statements are based on the opinions and estimates of management as of the date such statements are made.
Although management of Largo has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to
update any forward-looking statements, except in accordance with applicable securities laws. Readers should also
review the risks and uncertainties sections of Largo's annual and interim MD&As.
For further information please contact:
Largo Investor Relations
Tel: +1 416‐861‐9797
Neither the Toronto Stock Exchange (nor its regulatory service provider) accepts responsibility for the
adequacy or accuracy of this press release.