Date: Nov 02, 2017

The numbers just keep climbing for vanadium producer Largo Resources Ltd. (TSX: LGO | OTCQB: LGORF) (“Largo”). As if an exploding vanadium market gracing the company with soaring prices over the last couple of years wasn’t enough, a recent study has the potential to significantly expand the Maracas Menchen mine in Brazil, Largo’s flagship resource. The project has been in production since 2014, and in my opinion, is one of the greatest feats of junior mining timing in recent history.

The main pit and several new satellite pits were investigated to reveal any potential to expand mineral reserves. The resulting NI 43-101 compliant technical report outlined an after-tax net present value (NPV), using an 8% discount rate, of $542-million for the reserves at the Campbell pit, representing an increase of about 195% over the NPV reported for reserves in Largo’s updated mine plan and mineral reserve report filed on July 8, 2016. In addition to practically doubling the NPV of the main pit, the after-tax NPV for the mineral resources in the satellite deposits came to an additional $140-million.

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