Largo Inc (LGO)

[Slashnuts]

New Daily, Weekly and Monthly Production Records Again!

Largo Sets a New Monthly Production Record of 780 Tonnes in May

June 02, 2016

Daily production record of 34 tonnes representing approximately 128% of daily nameplate capacity
Weekly production record of 198 tonnes representing 107% of weekly nameplate capacity




TORONTO, June 2, 2016 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to report that it has superseded all previous daily, weekly and monthly production records at its Maracás Menchen Mine during the month of May. The company produced 780 tonnes of vanadium pentoxide ("vanadium" or "V2O5") in May 2016, surpassing its previous record for monthly production of approximately 730 tonnes set in April 2016 by 7%.


Largo is also very pleased to announce that it achieved a new daily production record on Monday, May 23, 2016 of 34 tonnes of V2O5 (representing approximately 128% of the plant's daily nameplate capacity).

The Company also recently achieved a new weekly production record of 198 tonnes of V2O5 during the week of May 24, 2016 (representing approximately 28.3 tonnes per day or 107% of nameplate capacity).


Mr. Mark A. Smith, President and Chief Executive Officer of Largo, stated: "With two months of consistent and record breaking production, our production team in Maracás has once again demonstrated the on-going success of the project. Largo is on the cusp of achieving nameplate capacity with these records and together with cost efficiencies, improved operational performance and an increase in V2O5 price, the Company will continue to be focused on creating strong shareholder value".

He continued "Looking ahead in 2016, Largo is on track to have a successful year and I want to sincerely congratulate the entire team on helping achieve these milestones".

About Largo

Largo (TSX-V: LGO) (OTCQB: LGORF) is a growing strategic mineral company focused on the production of vanadium pentoxide at its Vanadio de Maracás Menchen Mine. Largo also has interests in a portfolio of other projects, including: a 100% interest in the Currais Novos Tungsten Tailings Project in Brazil; a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project in Brazil; and a 100% interest in the Northern Dancer Tungsten-Molybdenum property in the Yukon Territory, Canada.

Vanadium is primarily used as an alloy to strengthen steel and reduce its weight. Vanadium enhanced steels are used in a vast and growing range of products that are used and encountered every day; including, rebar, automobiles, transport infrastructure etc. With consumption increasing at a compound annual growth rate of over 8% for the past several years (Roskill, 2015), vanadium is a bourgeoning commodity which lacks opportunities for investment in the wider market place. As trends in the steel industry now demand increasingly stronger and lighter products for advanced applications, the use of vanadium is expected to continue this growth over the medium and long term.

http://www.largoresources.com/English/investors/news/news-release-details/2016/Largo-Sets-a-New-Monthly-Production-Record-of-780-Tonnes-in-May/default.aspx

Good Luck To All!$!$!$