Largo Resources Ltd. (TSX: LGO) yesterday announced its second quarter 2019 production results from its Maracás Menchen Mine with 2,515 tonnes of vanadium pentoxide produced at an average global recovery rate1 of 79.1%.
Total production in Q2 2019 from the Maracás Menchen Mine was 2,515 tonnes of V2O5 representing an increase of 20% over Q1 2019 and a 2% increase over Q2 2018. In addition, the Company achieved a new monthly V2O5production record of 926 tonnes in June as a result of greater operational stability at the plant in addition to the optimization of the new and existing deammoniators as part of the commissioning and ramp-up phase of the Company’s expansion project. Lower V2O5 production of 755 tonnes in April was impacted by the restart of operations following the kiln refractory replacement which was completed on March 31, 2019.
Global V2O5 recovery1 rates averaged 79.1% during the quarter are in line with Q2 2018 and demonstrate another strong quarter of global recoveries1 for the Company.
The expansion project to increase production capacity at the Maracás Menchen Mine by 25% from 800 tonnes of V2O5 per month to 1,000 tonnes continues to advance successfully. The Company plans to install an additional ball mill in August and expects to finalize the commissioning and ramp-up phase in Q3 2019, reaching the new nameplate capacity of 1,000 tonnes of V2O5 per month in Q4 2019.
A summary of Q2 2019 production results from the Maracás Menchen Mine is presented below:
|Maracás Menchen Mine Production||Q2 2019||Q1 2019||Q2 2018|
|Global recovery1 (%)||79.1%||80.0%||79.2%|
|Concentrate produced (tonnes)||102,320||86,673||85,639|
|Grade of concentrate (% V2O5)||3.30%||3.32%||3.37%|
|Contained V2O5 (tonnes)||3,380||2,874||2,889|
|V2O5 flake produced (flake + powder) (tonnes)||2,515||2,099||2,458|
|V2O5 produced (equivalent pounds)2||5,544,619||4,627,497||5,418,956|
Mark Smith, Chief Executive Officer of Largo, stated: “I am very pleased with the operational performance demonstrated in Q2 2019 highlighted by another quarter of strong global recoveries1 and a new monthly production record achieved in June. He continued: “With additional production being realized as a result of the expansion project ramp-up, we look forward to finalizing the installation of the new ball mill and completing the commissioning and ramp-up phase of the expansion project in Q3 2019 to reach the new nameplate capacity of 1,000 tonnes of V2O5 per month in Q4 2019.”
Largo Resources’ management will host a conference call on Wednesday, August 14, 2019, at 11:30 a.m. EDT, to discuss second quarter 2019 operational and financial results.
Conference Call Details:
Date: Wednesday, August 14, 2019
Time: 11:30 a.m. EDT
Local / International: +1 (416) 764-8688
North American Toll Free: (888) 390-0546
Brazil Toll Free: 08007621359
Conference ID: 69944520
Local / International: + 1 (416) 764-8677
North American Toll Free: (888) 390-0541
Replay Passcode: 944520#
Anglo Pacific Group PLC (LON:APF) has a 2% NSR royalty on all mineral products sold from the area of the Maracás Menchen project to which the royalty interest relates. The project is located 250km south-west of the city of Salvador, the capital of Bahia State, Brazil and is 99.97% owned and operated by TSX Venture Exchange listed Largo Resources Limited.