Largo Inc (LGO)

[Slashnuts]

Largo Sets New Daily, Weekly, and Monthly Production Records!

Company Produces 730 Tonnes of Vanadium in April

Two new records achieved over consecutive days of 121% and 125% capacity
Weekly production record of 188 tonnes of vanadium produced
April's production record is an 7% increase over its prior monthly record




TORONTO, May 5, 2016 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to report that it has produced 730 tonnes of vanadium pentoxide during the month of April, surpassing its previous record for monthly production of approximately 681 tonnes set in October 2015 by 7%.


Largo is also very pleased to announce that it achieved two new daily production records in April with the first being on Saturday, April 23rd where 32 tonnes of V2O5 were produced (representing approximately 121% of the plant's daily design capacity) and the second occurring on Sunday, April 24th with daily production totaling 33 tonnes of V2O5 (approximately 125% of the plant's daily design capacity).

Additionally, Largo is pleased to report another production milestone of 188 tonnes of V2O5 produced during the week of April 18th to April 25th (representing approximately 26.9 tonnes per day or 102% of design capacity).

Mr. Mark A. Smith, President and Chief Executive Officer of Largo, stated "These new production achievements highlight the on-going success at the Maracás Menchen Mine. I would like to applaud our operations team on these three new production records which demonstrate the plant's increasing operating efficiency".

He continued "We expect to see continuing growth in average production rates and with the recent increases to the vanadium price, the Maracás Menchen Mine will be very strongly positioned."

These April production levels follow the challenges experienced in the first quarter of 2016. In particular, as a result of lower crusher availability (prior to the installation of the new portable crushing system in January) and extremely heavy rains in late January, production of 347 tonnes for January was much lower than expected. In addition and as a result of the flooding in late January, February production remained low as the Company worked to re-establish roads, berms and diversion ditches, as well pumping out the mine pit to re-access the higher grade ore.

Production in March improved to 436 tonnes but still remained lower than expected due to process and instrumentation issues encountered in the precipitation section of the chemical plant in the first half of the month. As these issues were addressed, the second half of March yielded stronger production results and despite the lower than expected production in Q1, the Company is now experiencing the benefits of the remedial actions taken in Q1 through the dramatically increased production results for the first month of Q2, 2016.

http://www.largoresources.com/English/investors/news/news-release-details/2016/Largo-Produces-730-Tonnes-of-Vanadium-in-April/default.aspx

Good Luck To All!$!$!$