Largo almost finished the repurchase and the last part they try to do it before Q2!!!
Mark is very positive about 2019....and still they have the 750.000.000 plan???
TORONTO, Jan. 30, 2019 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that it has completed the repurchase and retirement of US$59.2 million in aggregate principal amount plus premium and accrued and unpaid interest. This repurchase and retirement includes US$47.8 million and US$8.1 million as previously announced December 31, 2019 and January 9, 2019, respectively, in addition to a further repurchase and retirement of US$3.3 million. The remaining aggregate principal amount outstanding on the Company's 9.25% Senior Secured Notes due 2021 (the "Notes") is now approximately US$33.6 million, representing a decrease of approximately 78% of its current total outstanding Notes since May 2018. The Notes were repurchased at 105.625% and the Company worked with Jefferies LLC who arranged for an facilitated the repurchase of the Notes.
Mark Smith, Chief Executive Officer for Largo, stated: "Largo's outstanding debt balance is now approximately US$33.6 million and the Company remains in a net cash1 position beginning 2019 on a positive note. Following a record year of production for the Company, Largo looks forward to a great year ahead as it intends to retire the remainder of its outstanding debt on or before Q2 2019."
