Largo Resources Kursrakete

The batteries have been around since the 1980s, but there are only a few examples of the technology in a commercial setting. The battery is bigger than in other mass storage systems, and also more expensive, at least for now.

That may change if the early scramble to secure a stable supply of vanadium gains traction, much like the recent dash to find new sources of rare earths, the 17 metals that go into products as diverse as Apple iPhones and Toyota's Prius cars.

"Vanadium has all that rare earth-type opportunity, yet it has a very stable base on the steel-strengthening side," said American Vanadium Chief Executive Bill Radvak. "It's just about to take off in the next year or two."

That bodes well for the small Canadian miner and the handful of other companies that specialize in mining the metal. American Vanadium , Largo Resources , Apella Resources and Energizer Resources are developing deposits around the world.

The stocks have retreated along with the broader market, but analysts say the group could catch a wave if investors latch on to the growth story that many see in the offing.

"You're seeing dollars flow into this technology, so there is some good promise in it going forward," said Jonathan Lee, an analyst with Byron Capital Markets. "In the long term, the demand will rise."

GOING GREEN

Renewable energy like solar and wind are becoming part of the power mix as nations look to reduce reliance on fossil fuels, but power generation depends on favorable weather.

Mass storage batteries such as the vanadium redox flow battery can help by capturing the energy as it is generated, storing it and releasing it as needed.

China is investing heavily in the technology. Prudent Energy recently raised $30 million to try to reduce the cost of its vanadium battery systems, while China Strategic Holding is spending nearly $300 million to build the world's largest vanadium battery, according to industry reports.

"Once you get energy storage into the whole smart grid technology, it can largely reduce the cost and lead to the faster implementation," said Liyu Li, a chemist with the U.S Department of Energy's Pacific Northwest National Laboratory.

"With just a little more work, the battery could potentially increase the use of wind, solar and other renewable power sources," said Li. "But we need to make sure the cost is acceptable compared with other technologies."

VOLATILE PRICES

At present, vanadium prices tend to surge when steel demand is high and plummet during economic downturns. The volatility is a major deterrent for battery producers.

This has American Vanadium, which owns the Gibellini deposit in Nevada, thinking outside the box.

The company wants to partner with battery makers rather than simply selling them raw vanadium, offering the battery maker a supply at a set price, and giving miner a percentage of the higher-value battery products.

"We're putting ourselves out there as the domestic, secure supply," said Radvak. "We really want to work with the battery companies to capitalize on that, it's a value-added product."

Analysts estimate demand for vanadium in mass storage and electric vehicle batteries will hit about 20,000 tonnes a year by 2014. Steelmaking and aerospace demand is expected to grow from about 60,000 tonnes to 70,000 tonnes in the same period.

With current production dominated by China, Russia and South Africa, securing vanadium supply in the Americas has become a focus for end users.

Largo has signed an off-take deal with Glencore , where Glencore can buy all the vanadium it produces at its Maracas deposit in Brazil for six years.

"From a North American perspective, we are almost 100 percent dependent on imports of vanadium," said Berry. "If you can't access the raw material, then the supply chain doesn't exist."

DRIVING CHANGE

The dream for the future centers on using the supercharger metal to change the game for electric cars, much as the vanadium-using Model T changed the auto sector.

"People are worried about how fast can they charge batteries," said Lee. "One of the benefits of the vanadium phosphate battery is that it can charge and discharge more quickly than others."

German start-up DBM Energy has made a lithium vanadium car battery that it says can travel more than 600 kilometers (375 miles) on a single charge and recharge in just six minutes from a 240-volt source.

That means an electric car would charge in around the time it takes to fill up a conventional vehicle with gasoline.

By comparison, the current front-runner in electric vehicles is GM's Chevrolet Volt, which has a city driving range of 80 kilometers (50 miles) and takes about four hours to charge from a 240-volt source.

But the vanadium car battery technology has not been proven on a commercial level, and if rival batteries using cheaper metals can achieve similar results, vanadium batteries would no longer have any advantage, say analysts.

Still, car-makers like BYD and Subaru have plans to produce electric vehicles using vanadium batteries.

"It's still quite aways away, but there is growth potential there," said Lee. "As supply comes online, you'll see a lot more companies look at using vanadium."


www.reuters.com/article/2011/11/09/...e=marketsNews&rpc=43

Mr. Ioschpe joined the Lochpe-Maxion in 1986, where he held several positions up to 1996, when he left to become Chief Executive Officer of AGCO in Brazil. He returned to Lopche-Maxion in January 1998, taking office as Chief Executive Officer that same year. He has also been a director of Profarma Distribuidora de Produtos Farmacêuticos since 2006.

Mr. Ioschpe Graduated from the Federal University of Rio Grande do Sul, with a postgraduate degree from the School of Higher Education in Marketing & Communication Management in São Paulo. He also holds a Masters of Business Administration (MBA) from the Amos Tuck School at Dartmouth College (USA)

Mr. Ioschpe has been appointed as the nominee of Ashmore Investment Management Ltd. His appointment follows the resignation of Santiago Pardo of Ashmore Investment Management Ltd. The resignation of Mr. Pardo is to maintain correspondence with Ashmore's Corporate Governance policies regarding board membership in its portfolio companies. Ashmore will retain its position as a significant partner and shareholder in the company.

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company. The Company currently holds a 90% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailing Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada. The immediate goal of the Company is to develop the Maracás Vanadium Project by Q1 2013 and begin production of WO3 concentrate from the reprocessing of tungsten tailings from Currais Novos by December, 2011. Largo has a very skilled management team both in Canada and Brazil with the ability to advance these projects.

Largo is listed on the TSX Venture Exchange under the symbol "LGO".

For more information please refer to Largo's website: www.largoresources.com.

IMMERHIN EIN KLEINER ANFANG !!!

Largo receives BNDES Board approval for US$175 million debt facility
          §
May 15, 2012

   Initial construction phase has begun

   Click here to view infographic version of this release or enter this url:bit.ly/Jm45Cv

   Symbol: LGO (TSX.V)
   www.largoresources.com

TORONTO, May 15, 2012 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that the Board of Directors of the Business Development Bank of Brazil ("BNDES") have provided their final approval for a Brazilian Reais R$333 million (approximately US$175 million equivalent) debt-facility (the "Facility") for the Maracas Vanadium Project in Bahia, Brazil (see press release dated October 31, 2012).

Highlights:

   Attractive blended interest rate (See "Terms of Facility" below)
   Eight year facility
   Two year grace period on principal
   First disbursement expected in June
   Contracts for equipment and construction are being finalized with full scale construction to start in May

Mark Brennan, Largo's President & Chief Executive Officer stated, "This is a seminal moment in Largo's history as it enables Largo's core asset to move into full scale project development. We look forward to completing construction which will enable Largo to generate significant cash flows over a sustained period and provide further returns to shareholders."

Terms of Facility:

The Facility is denominated in Brazilian Reais ("BRL") but approximately 52% (R$173 million) of the Facility is indexed to U.S. dollars ("U.S. dollar component"). The 48% of the Facility that is not indexed ("BRL component") currently bears a weighted average interest rate of 7.61%, while the US dollar component currently bears a weighted average interest rate of 5.85%. The interest rate on the US dollar component is based on the BNDES cost of borrowing a basket of foreign funds, plus a weighted average margin rate of 2.26% which will increase or decrease with BNDES's foreign borrowing costs. Approximately R$50.1 million of the BRL component is to be fixed at 7.3%, while the remaining R$111.2 million is based on the Taxa de Juros de Longo Prazo ("TJJP") index, currently at 6%, a long term interest rate that BNDES posts from time to time, plus a weighted average margin of 1.75%. The TJLP rate has been constant at 6% since 2009. The Facility is expected to have a two year grace period on principal, and then will amortize on a straight line basis over 72 months.

The primary condition precedent to the Facility is the provision by three Brazilian commercial banks of a loan guarantee. Largo is in the process of finalizing this guarantee and expects it will be available before the end of May. The expected cost of this guarantee is 3.3%.

The final Facility documents and related guarantee agreement are subject to review and approval by Largo's Management and Board and require the conversion of all outstanding subscription receipts and the related release of the approximate $74 million of funds held in escrow (see press release dated March 8, 2012 for related conditions). Assuming all conditions precedent are met by the end of May, the initial disbursement of funds by BNDES under the Facility is expected in June 2012.

In the interim, Largo continues to advance the development of the Maracas project and the initial phases of construction including, the ordering of long lead items and finalization of electrical transmission, water line and earth moving contracts. Largo expects to break ground at Maracas in early June, 2012.

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company.  Largo currently holds a 90% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailing Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada.  The immediate goal of the Company is to develop the Maracás Vanadium Project by the end of Q3 2013 and continue to produce WO3 concentrate from the reprocessing of tungsten tailings from Currais Novos.  Largo's skilled management team both in Canada and Brazil, are confident in their ability to advance these projects.

Largo is listed on the TSX Venture Exchange under the symbol "LGO".

For more information please refer to Largo's website: www.largoresources.com

Largo mobilizing for groundbreaking at its Maracas Vanadium Project
          §
May 28, 2012

Full scale construction targeted to begin by June 4th

Symbol: LGO (TSX.V)
www.largoresources.com

TORONTO, May 28, 2012 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that a contract for earth-moving activities at the Maracás Vanadium Project is in place. Equipment is being deployed to the project site at the present time with initial ground-breaking anticipated to commence by June 4th, 2012, which initiates full-scale construction at the project.

Procurement orders for all critical long-lead items, including the rotary kiln; primary mill; sodium sulphate crystallizer and the ammonium metavanadate flash-dryer, have been placed. Procurement activity for shorter lead time items continues rapidly and will be ongoing. Likewise, bids for tanks, the main electrical sub-station and fresh water pumps will be finalized by the end of May, 2012.

Additionally, the installation of a 32 kilometer pipeline which will bring freshwater to the project is underway. The engineering and procurement work for the 90 km, 138 kV powerline required for the project continues to make good progress.  The construction process will take approximately 14 months and remains on track with targeted schedules.

A contract for the civil-construction works including the pouring of foundations and building of plant structures is being negotiated with the final contract to be awarded in June, 2012 with work targeted to commence in August. Some supplementary accommodations for site technicians are in place and are ready for immediate use and arrangements for the construction of further accommodations have been settled with work to conclude shortly in time for full-scale site activity.  During full-scale construction there will be approximately 600 persons working on site per day.

Quality Control

Mr. Tim Mann, P.Eng. and the Chief Operating Officer of the Company,  is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the program.

About Largo

Largo is a Canadian-based mineral resource exploration and development company focused on creating a world leading strategic metals company.  Largo currently holds a 90% interest in the Maracás Vanadium Project, a 100% interest in the Currais Novos Tungsten Tailing Project, a 100% interest in the Campo Alegre de Lourdes Iron-Vanadium Project, all in Brazil, and a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada.  The immediate goal of the Company is to develop the Maracás Vanadium Project by early Q4 2013 and continue to produce WO3 concentrate from the reprocessing of tungsten tailings from Currais Novos.  Largo's skilled management team both in Canada and Brazil, are confident in their ability to advance these projects.

Largo is listed on the TSX Venture Exchange under the symbol "LGO".

For more information please refer to Largo's website: www.largoresources.com

Bei einem Cut-Off-Gehalt von 0,45% V2O5 und berichtete von einem Whittle-optimierten Grubenmodell wird die gemessene und angezeigte Mineralressource für die Gulçari "A" Anzahlung schätzungsweise 24.640 Millionen Tonnen mit einem Gehalt von 1,11% Vanadiumpentoxid (V2O5) mit 272.900 sein Tonnen V2O5 und die abgeleitete Ressource wird auf 2,6 Millionen Tonnen mit einem Gehalt 0,76% V2O5 enthalten 19.800 Tonnen V2O5 sein. Dies ist ein leichter Anstieg von der vorherigen Schätzung im November 2007.

Die wichtigste Änderung Largo Mineralressourcenschätzung wurde die neue abgeleitete Ressourcenschätzung für die fünf Satelliten Einlagen. Diese abgeleitete Ressource wird auf 27,8 Millionen Tonnen mit einem Gehalt 0,83% V2O5 enthalten 232.100 Tonnen V2O5 bei einem Cut-Off-Gehalt von 0,45% V2O5 sein.

Details für die Einlagen sind in Tabelle 1 unten:

Tabelle 1

Gulçari A und Satelliten Einlagen Mineral Resources
Einlagen Kategorie Tonnen V2O5
(%) Enthalten V2O5 (Tonnen)
Gulçari A * Gemessen 8.870.000 1,37 121.500
Angegeben 15.770.000 0,96 151.400
M & I 24.640.000 1,11 272.900
Abgeleitete 2.610.000 0,76 19.800
Gulçari A Norte ** Abgeleitet 9.730.000 0,84 81.388
Gulçari B ** Abgeleitet 2.910.000 0,70 20.312
Novo Amparo ** Abgeleitet 1.560.000 0,72 11.255
Novo Amparo Norte ** Abgeleitet 9.720.000 0,87 84.453
Sao Jose ** Abgeleitet 3.900.000 0,89 34.706
Satellite Einlagen (5) ** Abgeleitet 27.820.000 0,83 232.114

* Resource innerhalb einer Tagebau-Modell mit US $ 34,20 / t alle Betriebskosten und berichtete in einem 0,45% V2O5 Cutoff, überprüft und bestätigt durch B. Terrence Hennessey (Micon International Limited)

** Ressource innerhalb eines Grubenmodell mit US $ 34,20 / t all der Betriebskosten und berichtete in einem 0,45% V2O5 Cutoff, überprüft und bestätigt durch Hebert Oliveira (Coffey Mining)

Die aktualisierte Ressourcenschätzung auf den Annahmen im September 2008 Definitive Feasibility Study im Mai 2009 geändert (siehe www.sedar.com), hergestellt durch Aker Solutions Canada Inc. berichtet basiert, würde die Ressourcen durch Tagebau Methoden 581.000 abgebaut werden Tonnen / Jahr von Erz, bei einer Vor-Ort-Anlage und 71% des enthaltenen V2O5 Metallwert gefräst wird voraussichtlich zahlbar nach Bearbeitungsgebühren. Der langfristige Preis von Vanadiumpentoxid in dieser Studie verwendet wird, ist US $ 6,75 pro Pfund oder $ US $ 12,54 pro Kilogramm.

Cautionary Statement: Mineralressourcen, die keine Mineralreserven sind, haben keine wirtschaftliche Realisierbarkeit nachgewiesen. Diese vorläufige Ressourcenschätzung ist vorläufiger Natur, es beinhaltet abgeleitete Mineralressourcen, die als zu spekulativ geologisch zu haben die wirtschaftlichen Überlegungen anzustellen, das wäre, um als mineralische Reserven kategorisiert werden, und es gibt keine Gewissheit, dass die Ergebnisse der vorläufige Ressourcenschätzung realisiert werden.

Andy Campbell, P.Geo., Largo Vice President of Exploration, sagte: "Wir sind sehr erfolgreich in unserem letzten Ziel auf Maracas zusätzliche Inferred Ressourcen durch Bohren sehr aussichtsreichen Gebieten auf der Maracas Immobilie in unmittelbarer Nähe zu den vorhandenen Ressourcen an der Definition Gulçari "A" Anzahlung. Die Satellitenlagerstätten die nördlich erstrecken sich acht Kilometer bleibt entlang des Streichens und in der Tiefe offen, so gibt es ein ausgezeichnetes Potenzial für die weitere Expansion der Ressource. " Er kommentiert weiter, dass "Largo 40 Kilometer von der vielversprechenden Band steuert und nur durch Bohren acht Kilometer getestet. Aktuelle Exploration einschließlich Boden magnetische Untersuchung, geologische Kartierung und Prospektion südlich der Gulçari" A "Lagerstätte identifiziert hat mindestens 10 zusätzliche Vorführungen der massiven Magnetit bleiben ungetestet. "

Mark Brennan, President und Chief Executive Largo kommentierte: "Wir sind mit den Ergebnissen der aktualisierten Ressourcenschätzung sehr zufrieden und glauben, dass es ein bedeutendes Aufwärtspotenzial der Wirtschaftswissenschaften an Maracas liefern die Ergebnisse einer Technical Report letzte Woche veröffentlicht (siehe. Pressemitteilung vom 13. September 2012) zu erforschen ein Base-Case-Szenario Produktion, die keine die Produktion von zusätzlichen Ressourcen. "

Er fuhr fort: "Mit diesem deutlichen Anstieg in der Ressource, Largo, um die kurzfristige Potenzial Produktionskapazität, die wir glauben, dass eine weitere Verbesserung der Wirtschaftlichkeit des Projektes zu erhöhen untersuchen will. Es ist wichtig zu beachten, dass im Vorgriff auf das Potenzial für zusätzliche Ressourcen am Maracas, hat Largo Schlüssel Produktionsanlagen mit erweiterten Kapazitäten bestellt zukünftige Investitionen Ausgaben für eine erhöhte Produktion Szenario zu minimieren. "

Die Ressourcenschätzung für Gulçari "A" Lagerstätte wurde überprüft und bestätigt durch B. Terrence Hennessey, P.Geo. von Micon International Limited. Mr. Hennessey, der eine unabhängige qualifizierte Person gemäß National Instrument 43-101 definiert ist, besucht die Website von 26 bis 29 Juni, 2006, 15-16 April, 2007 und 26. September bis 30. 2011. Die Mineralressourcenschätzung bei Gulçari "A" gilt als bescheiden zu sein und nicht eine wesentliche Veränderung.

Die Mineralressourcenschätzung für die Satelliten-Lagerstätten wurden überprüft und bestätigt durch Hebert Oliveira, P.Geo. von Coffey Mining. Mr. Oliveira, der eine unabhängige qualifizierte Person gemäß National Instrument 43-101 definiert ist, besucht die Website von 12 bis 23 September 2012. Die Ressourcenschätzung Verfahren und Klassifizierung verwendet werden in einem technischen Bericht von Herrn Oliveira, der auf SEDAR innerhalb von 45 Tagen eingereicht werden skizziert.

Parameter bei der Schätzung der Mineralressource verwendet werden, sind wie folgt:

   Die Datenbank besteht aus 209 Kernbohrungen und 21 Gräben. Bohrloch Arbeitsbereich in Gemcom-Datenbank enthält verschiedene Tabellen für Bohrungen und Gräben.

   Die Ressourcenschätzung verwendet eine neue Reihe von Querschnitten in Gemcom konstruiert jedes 25m, entsprechend der Bohrung Dichte. Diese Querschnitte senkrecht zur der Anzahlung und parallel gedreht lokale Ressource Grid, jede Drehung des Blockmodell zu vermeiden schlagen. Neue Sets von Draufsichten wurden auch alle 10m zwischen 100m Höhe und 300m Höhe gebaut.

   Fünf große geologischen Domänen wurden für die Gulçari Eine Anzahlung identifiziert worden. Geologische Domains für Magnetit Magnetit-Pyroxenit und Pegmatit wurden vollständig innerhalb des mineralisierten Teil der Sektionen gebaut. Umgebung Gabbro und Pyroxenit wurden teilweise modelliert. Magnetit und Magnetit-Pyroxenit umfassen mehr als 98% der Anzahlung. Pegmatit und Gabbro sind interne Abfallstoffen.

   All die Feststoffe (geologischen Domänen) erweiterten 50m über die bestehenden Bohrlöcher down dip. In einigen Abschnitten, als es noch nicht ausreichend Bohrungen wurden die Randbedingungen Ausmaß festgestellt, dass geologisch kompatibel mit vorherigen und nächsten Abschnitten.

   Ein Durchschnitt von spezifischen Dichte wurde berechnet und für unterschiedliche Gesteinsarten in massiven und gebänderten Magnetit (SG = 4,33), magnetitepyroxenite (SG = 3,57) und Gabbro (SG = 3,09) und Pyroxeniten (SG = 3,40) verwendet.

   Ein Assay oberen Schnitt von 3,8% V2O5 wurde basierend auf der Wahrscheinlichkeit Plot-Analyse für die Magnetit-Domain ausgewählt. Ein Top-Schnitt von 2,0% V2O5 wurde auf Basis der Wahrscheinlichkeit, Grundstücke für die Magnetit-Pyroxenit Domain ausgewählt.

   Alle Test-Daten wurde zusammengesetzt beginnend am Kragen mit ausgeschnittenen Daten ab Klasse Capping. Alle Bohrungen und Grabungen Assay-Daten wurde in 5m Abstand dann aktualisiert Schnittmengen zusammengesetzt.

   Die Ressourcenschätzungen für die Magnetit und Magnetit-Pyroxenit Domains wurden von einem Blockmodell Technik mit einer Ordinary Kriging Gehaltsinterpolation Verfahren hergestellt. Die untere Cutoff-Gehalt von 0,45% V2O5 geschätzt wird über die Machbarkeitsstudie für die Herstellung von Vanadiumpentoxid Flocken basiert.

Analytische Arbeit für das Bohrprogramm 2011 wurde von SGS Minerals Laboratory und ALSCHEMEX Laboratory sowohl in Belo Horizonte und Intertek Labor in Sao Paulo, Brasilien, alle ISO 9001 zertifizierten Labors durchgeführt. Largo verwendet einen systematischen Industriestandard QA / QC-Programm einschließlich Standards, Duplikaten und Blindproben. Die Proben wurden für FeO, Fe2O3, SiO2, TiO2 und V2O5 durch die XRF-Methode analysiert.

Andy Campbell, P. Geo., Largo Vice President of Exploration, ist die qualifizierte Person, die für die wissenschaftlichen und technischen Arbeiten für das Programm gemäß National Instrument 43-101 und hat diese Pressemeldung überprüft. Sicherheit wird im Kern Protokollierung und Probennahme Anlage in einem verschlossenen Lager vor Ort in der Nähe der Stadt Maracas befindet gepflegt.