TORONTO, June 17, 2015 /CNW/ - Largo Resources Ltd.
(TSX-V:LGO) ("Largo" or the "Company") announces that
it has granted an aggregate of 5,811,000 incentive stock options to
certain officers, directors and consultants of the Company, which
are each exercisable at $0.70 per
common share and expire on June 17,
2020.
About Largo
Largo is a growing strategic mineral company with projects in
Brazil and Canada. The immediate goal of the Company is
to continue to ramp-up production at its Vanadio de Maracás Menchen
Mine.
Largo's Maracás Menchen Mine boasts the highest grade vanadium
deposit yet discovered and is expected to be a low cost producer.
With an off-take in place with commodities giant Glencore, Largo is
well positioned to become a leading producer of vanadium globally
and is expected to generate substantial cash-flows.
Vanadium is primarily used as an alloy to strengthen steel and
reduce its weight. Vanadium enhanced steels are used in a vast and
growing range of products that are used and encountered every day;
including, rebar, automobiles, transport infrastructure etc. With a
compound annual growth rate of over 6% for the past several years
(Roskill, 2013), vanadium is a bourgeoning commodity which lacks
opportunities for investment in the wider market place. As trends
in the steel industry now demand increasingly stronger and lighter
products for advanced applications, the use of vanadium is expected
to continue this growth over the medium and long term.
Largo is listed on the TSX Venture Exchange under the symbol
"LGO".
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE
PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE
SOURCE Largo Resources Ltd.