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Largo produces 3,092 t V2O5 at Maracas in Q3
2020-10-19 07:09 ET - News Release
Mr. Paulo Misk reports
LARGO RESOURCES ANNOUNCES RECORD OPERATIONAL PERFORMANCE IN Q3 2020 WITH V2O5 PRODUCTION OF 3,092 TONNES AND LOWERS 2020 COST GUIDANCE
Largo Resources Ltd. has released third quarter 2020 production and global sales results from its Maracas Menchen mine highlighted by a new quarterly production record of 3,092 tonnes (6.8 million pounds) of vanadium pentoxide (V2O5) and a new record global recovery rate of 84.2 per cent.
Paulo Misk, president and chief executive officer for Largo, stated: "The health and safety of our work force continues to remain a top priority for Largo and our focus on preventative measures early on has enabled the company to continue operations in a safe manner since March, 2020. In Q3 2020, operations performed exceptionally well with the company achieving a new quarterly V2O5 production record of 3,092 tonnes and a new quarterly global recovery rate record of 84.2 per cent. The company has also reduced its cash operating cost excluding royalties and total cash cost guidance for 2020 to $2.60 (U.S.) to $2.80 (U.S.) and $3.20 (U.S.) to $3.40 (U.S.) per pound V2O5, respectively. This reflects our positive year-to-date performance and the company's expectations for the balance of the year. Additionally, the company is on track to meet the lower end of its 2020 production guidance of 11,750 to 12,250 tonnes of V2O5 and we look forward to ending the year on another high note. I am very proud of the entire operations team as they continue to demonstrate their ability to effectively meet and exceed operational targets, especially during these uncertain times."
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https://www.stockwatch.com/News/Item?bid=Z-C:LGO-2976318&symbol=LGO®ion=C