{"id":457259,"date":"2021-03-15T07:03:09","date_gmt":"2021-03-15T11:03:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457259"},"modified":"2021-03-15T07:03:09","modified_gmt":"2021-03-15T11:03:09","slug":"largo-resources-announces-the-execution-of-its-first-iron-ore-sales-contract","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/largo-resources-announces-the-execution-of-its-first-iron-ore-sales-contract\/","title":{"rendered":"Largo Resources Announces the Execution of its First Iron Ore Sales Contract"},"content":{"rendered":"

<\/p>\n

Largo Resources Announces the Execution of its First Iron Ore Sales Contract<\/b><\/p>\n

TORONTO–(BUSINESS WIRE<\/a>)–
\nLargo Resources Ltd. (“Largo” or the “Company”) (TSX: LGO) (OTCQX: LGORF) is pleased to announce the first sale of iron ore from the Marac\u00e1s Menchen Mine.\n<\/p>\n

\nThe Company finalized a sales contract for 14,000 tonnes of iron ore to a leading steel producer on March 12, 2021. Transport of the contracted material has commenced, and full delivery is expected by the end of March 2021. To date in 2021, the Company is currently producing iron ore at a rate that would result in the generation of approximately 500,000 tonnes per annum and has accumulated a total stockpile of approximately 2 million tonnes.\n<\/p>\n

\nPaulo Misk, President and Chief Executive Officer of Largo, stated: \u201cOur first sale of iron ore was a key step in validating the commercial viability of this material. This sale also highlights the added benefits of our newly established internal sales division and capitalizes on the higher iron ore price environment. <\/i>He continued: \u201cIt is also a diversification of sources of revenue for the Company as up until now, 100% of the Company\u2019s revenues have been derived from the sale of vanadium products. Material mined from the Marac\u00e1s Menchen Mine contains vanadium, iron ore and titanium. We will continue to explore the economic feasibility of extracting additional value from the Company\u2019s mineral resource.\u201d<\/i><\/p>\n

About Largo Resources<\/b><\/p>\n

\nLargo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE\u2122 and VPURE+\u2122 products, from one of the world\u2019s highest-grade vanadium deposits at the Company\u2019s Marac\u00e1s Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE\u00b1 vanadium redox flow battery technology. The Company’s common shares are listed on the Toronto Stock Exchange under the symbol “LGO”.\n<\/p>\n

\nFor more information on Largo and VPURE\u2122, please visit www.largoresources.com<\/a> and www.largoVPURE.com<\/a>.\n<\/p>\n

\nFor additional information on Largo Clean Energy, please visit www.largocleanenergy.com<\/a>.\n<\/p>\n

Forward-looking Information:<\/i><\/b><\/p>\n

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered “financial outlook” for the purposes of application Canadian securities legislation (“forward-looking statements”). Forward\u2010looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward\u2010looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to complete a listing on the Nasdaq, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE\u00b1 battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE\u00b1 batt<\/i>ery system, our ability to produce iron ore and the adoption of VFRB technology generally in the market. 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 Largo or Largo Clean Energy 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 which also apply.<\/i><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210315005225\/en\/<\/a><\/span><\/p>\n

Investor Relations:
\n<\/b>
Alex Guthrie
\n
Senior Manager, External Relations
\n
aguthrie@largoresources.com
\n<\/a>
Tel: +1 416\u2010861\u20109797\n<\/p>\n

Media Enquiries:
\n<\/b>
Crystal Quast
\n
Bullseye Corporate
\n
Quast@bullseyecorporate.com
\n<\/a>
Tel: +1 647-529-6364\n<\/p>\n

KEYWORDS:<\/b> North America Canada<\/p>\n

INDUSTRY KEYWORDS:<\/b> Alternative Energy Energy Natural Resources Mining\/Minerals<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Largo Resources Announces the Execution of its First Iron Ore Sales Contract TORONTO–(BUSINESS WIRE)– Largo Resources Ltd. (“Largo” or the “Company”) (TSX: LGO) (OTCQX: LGORF) is pleased to announce the first sale of iron ore from the Marac\u00e1s Menchen Mine. The Company finalized a sales contract for 14,000 tonnes of iron ore to a leading steel producer on March 12, 2021. Transport of the contracted material has commenced, and full delivery is expected by the end of March 2021. To date in 2021, the Company is currently producing iron ore at a rate that would result in the generation of approximately 500,000 tonnes per annum and has accumulated a total stockpile of approximately 2 million tonnes. Paulo Misk, President and … <\/p>\n

Continue reading “Largo Resources Announces the Execution of its First Iron Ore Sales Contract”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-457259","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLargo Resources Announces the Execution of its First Iron Ore Sales Contract - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/largo-resources-announces-the-execution-of-its-first-iron-ore-sales-contract\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Largo Resources Announces the Execution of its First Iron Ore Sales Contract - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Largo Resources Announces the Execution of its First Iron Ore Sales Contract TORONTO–(BUSINESS WIRE)– Largo Resources Ltd. (“Largo” or the “Company”) (TSX: LGO) (OTCQX: LGORF) is pleased to announce the first sale of iron ore from the Marac\u00e1s Menchen Mine. The Company finalized a sales contract for 14,000 tonnes of iron ore to a leading steel producer on March 12, 2021. Transport of the contracted material has commenced, and full delivery is expected by the end of March 2021. To date in 2021, the Company is currently producing iron ore at a rate that would result in the generation of approximately 500,000 tonnes per annum and has accumulated a total stockpile of approximately 2 million tonnes. 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