UPDATE: Largo Resources Up 10% As Provides Brazil Update
Largo Resources Ltd. (LGO.V), which edged further away from near 52 week lows Friday, is up another 10% today as it announced the results from a National Instrument 43-101 compliant Preliminary Economic Assessment which affirms "very robust" economics for an expanded production scenario for its Maracas Vanadium Project in Bahia, Brazil. It said changes result in an increase to $554 million versus $274 million (+102%) in the Net Present Value and an increase to 26.3% versus 22.4% in the Internal Rate of Return versus the previous production profile each as compared to the results of the Feasibility Study. The new production scenario sees production increased by approximately 46% following year 2 and sees a dual revenue stream of V2O5 and FeV following year 3. The mine life is also increased to 29 years from the 15 years previously set out in the Feasibility Study.
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