Edition:
United Kingdom

Largo Resources Sees Q2 Revenue Of Between C$99 Mln And C$107 Mln


Tuesday, 17 Jul 2018 

July 17 (Reuters) - Largo Resources Ltd ::LARGO RESOURCES LTD - FOR THREE MONTH PERIOD ENDING JUNE 30, 2018 ANTICIPATING REVENUE OF BETWEEN CDN$99 MILLION AND CDN$107 MILLION.LARGO RESOURCES LTD - CO EXPECTS FOREIGN EXCHANGE LOSS IN Q2 2018 TO EXCEED LOSS RECORDED IN Q2 2017.LARGO RESOURCES - INCREASE TO Q2 REVENUE TO BE LARGELY DRIVEN BY UPWARD MOVEMENT IN VANADIUM PENTOXIDE PRICING AND INCREASED PRODUCTION.LARGO RESOURCES - ON JULY 13, BRAZILIAN NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT BANK PROVIDED CONSENT FOR EARLY REPAYMENT OF CO'S CREDIT FACILITY.LARGO RESOURCES - RECEIPT OF CONSENT IS CONDITION TO RELEASE FROM ESCROW OF FIRST TRANCHE OF NET PROCEEDS FROM CO'S RECENTLY COMPLETED OFFERING.LARGO RESOURCES - ANTICIPATES MAKING PAYMENT USING RELEASED PORTION OF ESCROWED FUNDS OF $84.14 MILLION TO BNDES ON OR ABOUT JULY 23.