Largo Inc (LGO)

[Siarayne29]

How do you understand the following 3 excerpts
relating to the debt pay-off. Should we expect another NR for the total clearance of the debt soon?

Excerpt from Q1 MD&A, page 4:
On May 3, 2019, the Company issued its excess cash flow offer to purchase all of its outstanding Notes (note10) of US$29,101 at a purchase price of 103% of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date. The offer was made in accordance with the terms of the Notes and will expire at midnight, New York City time, on May 31, 2019, unless extended or earlier terminated

Excerpt from today NR:
Largo Resources Ltd. has repurchased approximately $6.7-million (U.S.) in principal amount of its 9.25 per cent senior secured notes due 2021. The notes were repurchased at a purchase price of 103 per cent of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date, pursuant to the terms of the excess cash flow offer that Largo was obligated to make to holders of notes in accordance with the indenture governing the notes. The excess cash flow offer was made pursuant to an offer to purchase dated May 3, 2019, which set forth the terms of the excess cash flow offer. In aggregate, Largo paid approximately $6.9-million (U.S.) in connection with the repurchase under the excess cash flow offer (including principal, premium and accrued but unpaid interest). Following this repurchase, the principal amount remaining outstanding under the notes is approximately $22.4-million (U.S.).

Excerpt from Q1-19 CC:
Mark Smith: And finally, we are committed to implementing a capital return program to return cash to our shareholders in the form of dividends and/or the repurchase of shares and/or warrants following the expiration of our excess cash flow offer and the company's ultimate repayment of the remaining debt balance of USD 29.1 million. We intend to communicate the details of the capital return program on or before our Annual General Meeting of Shareholders, which is on June 27, 2019.

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