Largo Inc (LGO)

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Yet Another Record, Plant Operating Above Nameplate Capacity!$!$

Largo Resources Announces Record Q3 Production Results and New President and COO
October 03, 2018

Record production of 2,563 tonnes of V2O5 in Q3 2018, a 4% increase over Q2 2018
Record overall V2O5 recovery rate of 82.2% achieved during the month of September
Total production in Q3 2018 was 6% above plant's nameplate capacity

TORONTO, Oct. 3, 2018 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) is very pleased to report third quarter 2018 production results from its Maracás Menchen Mine highlighting record quarterly vanadium pentoxide ("V2O5") production during the quarter and a new record overall V2O5 recovery rate during the month of September.

The Maracás Menchen Mine achieved yet another quarterly production record of 2,563 tonnes of V2O5 produced in Q3 2018 compared to 2,513 tonnes in Q3 2017 and 2,458 in Q2 2018. This marks the third consecutive quarter of strong production in 2018 and the highest quarterly production recorded in the Company's history.
Overall V2O5 recovery rates averaged 77.1% during the quarter, in line with Q3 2017. The Company exited the quarter with record overall V2O5 recovery rates averaging 82.2% in September, the highest monthly average rate recorded in the Company's history. Overall, management expects production from Maracás to continue at these levels for the balance of the year and production should exit 2018 around the upper range of the Company's revised 2018 guidance.
A summary of production results from the Maracás Menchen Mine is presented below:

Maracás Menchen Mine Production
Q3 2018
Q2 2018
Q1 2018
Q3 2017





Overall V2O5 Recovery Rate (%V2O5)
77.1%
79.2%
75.9%
76.5%
Concentrate produced (tonnes)
88,075
85,639
77,222
100,312
Grade of Concentrate (% V2O5)
3.39%
3.37%
3.56%
3.38%
Contained V2O5 (tonnes)
2,986
2,889
2,747
3,387
V2O5 flake produced (tonnes)
2,563
2,458
2,214
2,513
V2O5 produced (equivalent pounds)1
5,650,000
5,419,000
4,881,000
5,540,000
1. Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.

Mr. Smith, Chief Executive Officer of Largo, stated: "The Maracás Menchen Mine demonstrated another strong operational quarter in Q3 with record production of 2,563 tonnes of V2O5, while also achieving the highest monthly average overall V2O5 recovery rate in the Company's history. With 7,235 tonnes of V2O5 produced so far this year, the Company is well positioned to achieve the upper end of its increased and revised 2018 guidance range of 9,150 to 10,150 tonnes of V2O5 produced for the full year."

Appointment of Paulo Misk as Chief Operating Officer and President
The Company also announces the appointment of Mr. Paulo Misk as Chief Operating Officer and President of Largo. Mr. Misk will continue to serve as President of Brazilian Operations at Vanádio de Maracás S.A. where he played a critical role in the initial stages of production at Maracás and the subsequent overhaul of operations and ramp-up to nameplate capacity. Mr. Misk has over 30 years' experience in operational management at mining facilities for various large multi-national mining companies across a wide range of commodities, including niobium, chromite, iron, tin, gold, lithium and a range of other industrial minerals. Prior to joining Largo, Mr. Misk ran Anglo American's Catalão Project from 2011 to 2014 where he was promoted to Head of Niobium Operations after serving as Niobium General Manager for one year.

Mr. Smith, who will remain CEO continued: "Over the past four years, Paulo has been committed to the overall operational efficiency at the Maracás Menchen Mine as evidenced by the Company's multiple production records and reported low operating costs. Paulo's many years of experience combined with his tenacity and leadership skills make him well suited to assume the role of Chief Operating Officer and President at Largo as the Company experiences future strategic growth. On behalf of the Board of Directors, I look forward to Paulo's continued commitment with this new role."

http://www.largoresources.com/investors/news/press-release-details/2018/Largo-Resources-Announces-Record-Q3-Production-Results-and-New-President-and-COO/default.aspx

Good Luck To All!$!$