Largo Resources Kursrakete

LARGO RESOURCES LTD ("LGO-V;LGONF-L")
- Short Positions on 2007/11/15     184,000           0      0.63

//st
Net       Total     Last        Total       Price
Date         Change     Shorted    Price       Volume       Range
--------------------------------------------------
2007/11/15            0     184,000     0.63    3,273,677    0.63 - 0.72
2007/10/31     -174,000     184,000     0.70    4,182,041    0.66 - 0.72
2007/10/15      139,000     358,000     0.66    2,343,787    0.58 - 0.72
2007/09/30            0     219,000     0.60*   1,510,863    0.53 - 0.63
2007/09/15      -30,100     219,000     0.53*   1,436,574    0.48 - 0.53
2007/08/31     -213,522     249,100     0.50    5,829,796    0.35 - 0.55
2007/08/15       -5,000     462,622     0.45    3,544,044    0.45 - 0.67
2007/07/31       78,000     467,622     0.73    2,968,602    0.71 - 0.89

* - Indicates that the closing price used is the last non-zero
closing price and is not the closing price on the report date.

//et
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einer von euch mitglied hier ?

http://www.infomine.com/index/companies/LARGO_RESOURCES_LTD..html

wenn man das hier sieht kriegt man ja das kalte mienen grausen :

http://www.infomine.com/companies-properties/Welcome.asp?cAlpha=C


mfg  

hält, oder ob es wie im August noch drunter rauscht.
SK TSX 0,445CAD (=0,303?)
mfg nf

-------------------------
Nur Fliegen sind schöner.




 

zumindest ist der derzeitige Verlauf der Kurven s.u.,

(wenn es  so weitergeht und "grün" noch "rot" kreuzt )

ein kleines Adventsgeschenk !

 

Wie wird die Zukunft dieser Aktie aussehen? Hat einer eine Antwort?

DANKE  

beschissener kann es nicht werden !

umso mehr news kommen , nicht mal schlechte sondern gute desto mehr rauscht das ding in die tiefe!

macht echt keinen spass ... aber ich werde halten  

News bei Bravo Venture, Columbia Yukon oder Bolero Resources haben auch nichts gebracht.
Ist leider so.  

noch 13mio warrants outstanding mit faelligkeit am 28 maerz ...

ich glaube es wird noch etwas mehr schmerzen  

Press Release Source: Largo Resources Ltd.



Largo Receives Preliminary Indicative Terms from London-Based Investec Bank (UK) Limited to Arrange up to 75% Debt Financing for Maracas Vanadium Project (Brazil)
Thursday January 10, 4:20 pm ET



Debt financing option avoids potential dilution of Shareholders' Equity at the time of a production decision


Company believes interest provides validation of Maracas' projected robust economics from a bank that is highly experienced in resource finance


Company in later stage discussions with potential offtake partners





TORONTO, ONTARIO--(MARKET WIRE)--Jan 10, 2008 -- Largo Resources Ltd. (CDNX: LGO.V" rel="nofollow" class="showvisited">http://finance.yahoo.com/q?s=lgo.v">LGO.V - News)" rel="nofollow" class="showvisited">http://finance.yahoo.com/q/h?s=lgo.v">News) is pleased to announce that it has received preliminary indicative terms from Investec Bank (UK) Limited ("Investec") to arrange up to 75% of the projected capital cost of developing the Maracas vanadium project (the "Project") in Bahia, Brazil. The final nature and terms of any financing will depend on the results of due diligence and prevailing market conditions and is predicated on Aker Kvaerner's ongoing feasibility study confirming the project economics set out in last month's Scoping Study prepared by Micon International Ltd. ("Micon"). The Feasibility Study for the Maracas vanadium project is scheduled for completion by June 30, 2008.





Largo President and CEO Mark Brennan commented: "we are buoyed by Investec's expression of interest and believe it supports our view of Maracas' exciting potential as a highly robust, world-class vanadium deposit."


The scoping study prepared for Largo by Micon was previously referenced in a December 10, 2007 news release. Based on an estimated initial capital investment of US$126.2 million and the milling of 14,633,000 tonnes of open pit material at a diluted grade of 1.29 % vanadium pentoxide the project has a discounted payback period of 3 years and generates cashflows of US$683 million over an estimated production life of 26 years. This results in a pre-tax IRR of 40.7% and a pre-tax NPV of US$212 million at a discount rate of 10% per year.


Price forecasts for vanadium pentoxide were commissioned from CRU of London, England. The base case view of the CRU forecast is that the long-term price of vanadium pentoxide will stabilise at approximately $5.00 per lb. The open pit mine design was based on a pit shell reflecting this long-term price. The Measured and Indicated Mineral Resource at Maracas (Gulcari "A") at $5.00 per lb vanadium pentoxide consistent with a cut-off grade of 0.36% has been estimated by Micon to be 22.5 million tonnes grading 1.27% vanadium pentoxide, including a high-grade zone of 8.4 million tonnes grading 2.0% vanadium pentoxide. Based on this previously announced resource estimate, Gulcari "A" has 624 million lbs of contained vanadium pentoxide. Mineral resources that are not mineral reserves do not have demonstrated economic viability.


This press release was reviewed by Andy Campbell, P.Geo., Largo's VP of Exploration, who is a Qualified Person under NI 43-101.


About Investec


Investec is an international, specialist banking group that provides a diverse range of financial products and services to a select client base. Investec Commodities and Resource Finance is a specialist mining finance team that is a recognised leader in the provision of financial solutions to the mining sector. For additional information, see their website at " rel="nofollow" class="showvisited">http://www.investec.com/"> www.investec.com.


About Largo


Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Maracas Vanadium-PGM deposit in Brazil and the Northern Dancer Tungsten-Molybdenum deposit in the Yukon. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador. The company is listed on the TSX Venture Exchange under the symbol LGO.


For more information please refer to Largo's website: " rel="nofollow" class="showvisited">http://www.largoresources.com/"> www.largoresources.com.


Disclaimer


Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations, production levels and costs, estimates regarding mineral resources, projections regarding mineral prices, anticipated revenues and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.




THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.




Contact:
    Contacts:     Largo Resources Ltd.     Mark Brennan     President & CEO     (416) 861-5886     Email:  mbrennan@largoresources.com           Largo Resources Ltd.     Tony LaMantia     VP, Corporate Development     (416) 861-5882     Email:  tlamantia@largoresources.com     Website:  " rel="nofollow" class="showvisited">http://www.largoresources.com/"> " rel="nofollow" class="showvisited">http://www.largoresources.com/"> http://www.largoresources.com
 

= 0,40?.
Reine Spekulation.
mfg nf

aus W-O :


Daily News Wednesday, January 09, 2008

Northern Dancer growing into world class moly-tungsten deposit

Companies in this story
Largo Resources Ltd


Related Articles
Canada
Exploration
Industrial/specialty minerals




Vancouver - Drill results are confirming that Largo Resource's (LGO-V) Northern Dancer project hosts one of the largest known tungsten-molybdenum porphyry systems in the world.

A recent 26-hole drill program at the project, a 1,500-hecatre area straddling the B.C.-Yukon border 290 km east of Whitehorse, returned two lengthy well-mineralized intercepts as well as several shorter, higher-grade hits.

The strongest grades came in hole 79, which cut 44 metres grading 0.22% WO3 and 0.035% molybdenum from 327 metres depth followed by 68.8 metres grading 0.11% WO3 and 0.147% molybdenum from 405 metres downhole. Hole 80, collared 150 metres southeast, pulled 85.4 metres of 0.11% WO3 and 0.072% molybdenum.

The long intercepts came further south, still near the eastern edge of the deposit. Hole 75 was collared 500 metres south of hole 79 and cut 438 metres of 0.1% WO3 and 0.03% molybdenum from 3 metres depth; hole 76 was drilled midway between the two and returned 387 metres of 0.13% WO3 and 0.03% molybdenum from 1.5 metres below surface. Both of the long intercepts included shorter, high-grade segments, such as 24 metres grading 0.29% WO3 and 0.03% molybdenum.

One of a trio of results out in early November indicated that longer intercepts along the eastern side of the deposit might be forthcoming. Hole 73, later sandwiched between holes 75 and 76, pulled a 339-metre intercept grading 0.15% WO3 and 0.03% molybdenum from surface, including 54 metres grading 0.32% WO3 and 0.02% molybdenum.

Largo believes the intercepts represent true thicknesses. The company has received results for 11 cores to date and is still awaiting results from the remaining 15 holes.

AMAX Minerals, which through a series of major acquisitions is not part of Freeport-McMoRan Copper & Gold (FCX-N), worked what was then called the Logtung property in the 1970s, drilling 51 diamond holes and advancing almost 500 metres of underground exploration workings. Since Largo came on scene in 2006 the Northern Dancer property has seen an additional 43 holes, producing sufficient data for a resource calculation last April. At that point the deposit was estimated to hold 242 million inferred tons grading 0.1% WO3 and 0.047% molybdenite, which is 0.028% molybdenum. Included in the inferred resource is a higher-grade molybdenum zone hosting 36.8 million tons of 0.085% molybdenite.

Mineralization at Northern Dancer is porphyry-style, with metals hosted in fractures and veins associated with a northeast-trending sheeted vein system in calc-silicate or skarn rocks. The quartz-feldspar porphyry is also spatially related to a felsic intrusion. The deposit has to date been tested for 750 metres along strike, 600 metres width, and to a depth of 500 metres.

Tungsten and molybdenum mineralization are concentrated in two zones that partially overlap. A higher-grade molybdenite zone sits n the core of the deposit, wherein molybdenite occurs within and adjacent to the felsic intrusions. Surrounding and partially overlapping the molybdenite zone is a much more extensive tungsten zone, characterized by sheelite occurring in northeast-trending sheeted quartz veins in skarn.

The 2007 drill program was designed to define the extent of the higher-grade molybdenum and tungsten zones intersected in 2006. More specifically, Largo completed a series of angled drill hole fences across the deposit because historical drill holes were vertical or sub-vertical and so did not adequately test the typically steeply-dipping quartz-sheelite veins with which higher tungsten grades are associated.

And soil sampling results indicate good potential for tungsten mineralization to extend southwest from the deposit, where soils average 0.157% WO3, considerably higher than the average 0.024% WO3 found in soils from the deposit area. The southwestern-most hole to date, hole 78, returned 64 metres grading 0.12% WO3 and 0.02% molybdenum from 75 metres depth.

Largo is focused on specialty metals. The company's other main project is Maracas, a vanadium-platinum project in Bahai, Brazil. In December a preliminary economic assessment of Maracas forecast that initial capital investment of US$126.2 million would generate US$683 million in cash flow over a 26-year mine life.

The assessment was based on a pit shell reflecting a vanadium pentoxide price of US$5 per lb. The pit would be mined in two phases, but the assessment included only the first phase of 14.7 million tonnes of ore grading 1.29% VO5. Total measured and indicated resources at Maracas are estimated at 22.5 million tonnes grading 1.27 VO5 and 0.28 grams combined platinum and palladium per tonne.

Two days after the preliminary assessment came out Large announced that a feasibility study for the project is now underway.

Largo fell slightly on news of the latest drill results from Northern Dancer, closing down 4¢ at 46¢. The company has a 52-week trading range of 32.5¢ to $1.07 and has 92.5 million shares issued.


www.northernminer.com  

wäre schön , wenn dieser thread mal weiter gepflegt würde.
Gruß
K.  

also anscheinend liest man in einem anderen board folgendes :

Cormark (former Sprott Securities) is very strong on the bid and has taken out most of the blocks.....is Embry hot on LGO? Well they also run a moly fund - maybe ND is on their screen......

und :

this is significant news and has a structural background - cant be solved that fast. Vanadium and other metals used for stainless steel will keep soaring!
LGO looks bullish on the chart: broke out of the downward channel, tested resistance at 0.53 (trend channel from previous August high), looks like will see at least 0.60 in the very near term should this be broken up, the chart is very bullish!

Ferrochrome prices set to rally on South African power shortage

http://www.resourceinvestor.com/pebble.asp?relid=40738



desweiteren :

This was posted by Lasvegas on the VGM site and of interest due to its description of a patent for a diesel catalytic converter that requires Vanadium, moly titanium, etc......

Diesel engines are the future, so if they need moly for dieselcatalytic converters on top of all it's other uses? Well, the molyprices will obviously stay high

"Siemens Aktiengesellschaft,based in Germany, has been assigned a United States patent on a processfor the catalytic removal of polycyclic aromatic nitro, nitroso and/oramino compounds (nitrated polycyclic aromatic hydrocarbons ?nitro-PAHs) from the exhaust gas of a combustion system, in particulara diesel engine. The exhaust gas is brought into contact with acatalytic converter at a temperature of from 150º to 600ºC. Thenitro-PAHs are oxidized at the catalytic converter through the use ofoxygen to form nitrogen oxides (NOx), carbon dioxide (CO2) and water.


Thecatalytic material contains, by weight, 80 to 95 per cent titaniumdioxide, 2 to 10 per cent tungsten trioxide or molybdenum trioxide, and0.05 to 5 per cent vanadium pentoxide. To oxidize the nitro-PAHs, acertain oxygen content is required in the exhaust gas. The exhaust gasof a diesel engine is inherently high in residual oxygen content."


vielleicht ist es ja der mix der es macht und manche werden so langsam aufmerksam auf Largo und ihr Vanadium und anderen Metalle.


mal schaunen


allen longs

Bonne Chance  

habe wohl heute schlafende Hunde geweckt :-))  

Largo Real-Time


 

Largo Intersects 52 Meters Grading 0.26% WO3 and 0.18% Mo at Its Northern Dancer Tungsten-Molybdenum Project, Yukon
- Wide zones of tungsten and molybdenum mineralization reported at or above deposit grade in all of the holes

- Significant higher-grade intervals also reported

- Revised resource calculation targeting higher grade zones due at the end of the First Quarter

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2008) - Largo Resources Ltd. (TSX VENTURE:LGO) announces that it has received results for ten (10) drill holes totalling 1875 samples which is part of the recently completed drill program of 26 holes totalling 8,494 metres at the Company's 1,500 hectare Northern Dancer Tungsten-Molybdenum property which straddles the Yukon-British Colombia border, 290 kilometres east of Whitehorse.

Largo has now received results for twenty-four (24) holes totalling 4934 samples at this time. Assays are still pending on the two remaining holes. Work is now focused on modelling and on updating the resource, which is due to be completed in the first quarter.

The drill program focussed on upgrading and expanding the current mineral resource of 242 million tonnes grading 0.10% WO3 and 0.047% MoS2 including 36.8 million tonnes grading 0.085% MoS2 (reported in the April 2, 2007 press release) as well as on further defining the higher grade tungsten and molybdenum zones. Note that WO3 is Tungsten scheelite and MoS2 is molybdenite grade. Preliminary pit modelling was done in order to help maximize the effectiveness of the drill program.

Significant Highlights include:

- LT07-89 - 52.00 metres grading 0.26% WO3 and 0.18% Mo

- LT07-85 - 16.10 metres grading 0.23% WO3 and 0.02% Mo and 88.50 metres grading 0.15% WO3 and 0.05% Mo

- LT07-96 - 250.00 metres grading 0.11% WO3 and 0.05% Mo including 44.90 metres grading 0.14% WO3 and 0.05% Mo

- LT07-95 - 164.00 metres grading 0.14% WO3 and 0.03% Mo and 26.00 metres grading 0.24% WO3 and 0.04% Mo

The drilling has now tested the porphyry style mineralization along strike for 1.0 kilometre to a vertical depth of 500 metres and the zone ranges in width from 50 to 437 metres. The deposit remains open along strike and to depth. The mineralization consists of several generations of numerous quartz veins and veinlets crosscutting the various rock types within the limits the northeast trending structural zone. These veins and veinlets contain varying amounts of scheelite and molybdenite.

Andy Campbell, Vice President, Exploration at Largo Resources commented: "The drill program has been successful at achieving its goals of further defining the higher grade tungsten and molybdenum zones. Recent results continue to be very encouraging, with all ten holes reporting good grades at or above deposit grade over wide widths of mineralization, including three holes that have exceptional widths."

The Northern Dancer property hosts widespread tungsten-molybdenum porphyry style mineralization, the core of which has been partially delineated by 68 diamond drill holes and 496 metres of underground workings. Work to date has been completed by AMAX Minerals Exploration from 1977 to 1980 and by Largo Resources which completed a 17-hole diamond drill program in 2006. On April 2, 2007, Largo announced a NI 43-101 compliant inferred mineral resource of 242.0 million tonnes grading 0.10% WO3 and 0.047% MoS2 containing 508.1 million lbs. tungsten (WO3) and 151.0 million lbs. molybdenum (Mo) confirming Northern Dancer as one of the largest undeveloped tungsten-molybdenum deposits in the world. This resource includes a higher grade Mo zone of 36.8 million tonnes of 0.085% MoS2.

Please refer to Table 1 (Summary of Significant Assay Results - Northern Dancer Property, Yukon) which is appended to this news release for a summary of the above-noted drill results. Largo's website has the Northern Dancer 2007 Drilling Plan Map which provides a reference for the location of these holes on the property via the following link:

http://www.largoresources.com/nd_map.htm

The Northern Dancer deposit is one of the world's largest known tungsten-molybdenum porphyry systems. The mineralization is hosted in fractures and veins associated with a northeast-trending sheeted vein system in calc-silicate (skarn) rocks and spatially related to a felsic intrusion (quartz-feldspar porphyry). The deposit, which has been tested by drilling for 1,000 metres along strike, 500 metres vertically and 600 metres in width, remains open along strike to both the northeast and southwest as well as at depth.

Tungsten and molybdenum mineralization are concentrated in two zones which partially overlap. In the core of the deposit, there is a higher-grade molybdenum zone where molybdenite occurs within and adjacent to the felsic intrusion. Surrounding and partially overlapping the molybdenum zone is a much more extensive tungsten zone where scheelite occurs in northeast-trending sheeted quartz veins in skarn.

Analytical work is being carried out at Acme Analytical Laboratories Ltd. in Vancouver, British Columbia, an ISO 9001-2000 certified laboratory. The samples are crushed to 70% passing 10 mesh, split to 250 g and pulverized to 95% passing 150 mesh. A 5-gram split is analyzed for Mo and W using a phosphoric acid leach followed by ICP-emission spectrometry. Then a second 5-gram split is analyzed for 36 elements by ICP-mass spectrometry using a hot (95 degrees centigrade) aqua regia leach. Routine check assays are performed at SGS Minerals in Lakefield, Ontario on sample rejects. Largo employs a systematic QA/QC program including standards, duplicates and blanks. Andy Campbell, P. Geo., Largo's Vice President of Exploration, is the Qualified Person responsible for the scientific and technical work for the program as defined under National Instrument 43-101 and has reviewed this press release.

About Largo  

mal unsere moly werte mit thompson creek zu vergleichen ?

;)

 

 

"For miners, the best is yet to come"

ANDY HOFFMAN
MINING REPORTER
Toronto Globe and Mail

February 25, 2008

The bull run in commodities is far from over, according to a prominent market strategist who predicts base metal stocks will take a breather before resuming their ride on a "once-in-a-millennium" boom that will last at least two decades.

Bank of Montreal global portfolio strategist Don Coxe is expected to deliver his exceedingly bullish forecast at an industry conference in Florida today where the bulk of the world's major mining executives have gathered.

Mr. Coxe, who correctly predicted the start of the mining boom at the same conference six years ago, believes that metals demand from the roaring economies of China, India and other developing nations will outweigh the effects of a U.S. recession and equities bear market.

"It has become clear that this is a once-in-a-millennium commodity boom that will last at least as long as the commodity crash - two decades," Mr. Coxe wrote in a report titled "The Music of the Metal Markets."

China's move to buy a 12-per-cent stake in Rio Tinto PLC for $14-billion (U.S.) ahead of rival BHP Billiton Ltd.'s $147.4-billion hostile bid for Rio, could end in the biggest merger in history, Mr. Coxe noted, evidence of how much China is changing the world economy.

"Faced with a takeover of the No. 3 iron ore shipper by the No. 2, China authorized a blocking attempt by one of its state-controlled entities," Mr. Coxe said.

Just five years ago, the mining industry's entire market value was $185-billion. Now, it is more than $2-trillion as metal prices for copper, nickel, iron ore and other commodities have exploded and stalwarts including Alcan, Inco and Phelps Dodge have all been snapped up in a frenzy of consolidation. Over the same period, the S&P TSX mining index has skyrocketed nearly 500 per cent.

Mr. Coxe believes that Western metals demand will slow because of the collapse of the U.S. housing market and a pending recession. "A temporary slowdown [was] predictable: Each decade has some sort of pause. What will follow this one will be, we believe, an even greater boom - that will last for many, many years," he said.

China and India are poised to reclaim their 18th century reign as the key drivers of the world's economy and domestic demand from those countries will keep the boom intact, the BMO strategist predicts.

"China's consumption of copper is roughly twice America's, and its demand for iron ore dwarfs U.S. demand. This is no mere hiccup, but a hinge in history," he said.

Mr. Coxe shrugged off concerns that a U.S. recession, which could spread to the European Union and hurt Chinese and Indian exports, would reduce metal demand.

"Most of the metal demand in those export-oriented economies comes from domestic sources - construction, infrastructure, capital spending and consumer durables. Exports from China and India don't tend to be of the heavy-metal variety," he said.

Not surprisingly, Mr. Coxe is advising heavy exposure to gold.

"In the near term, the golds will continue to outperform the stock markets and act as a form of hedge against two kinds of shocks - financial panics and inflation shocks," he said.

While he is advising clients to modestly reduce their base metal exposure as a result of near-term cyclical risks, Mr. Coxe recommends long-term investors remain heavily overweight in commodity stocks including base metals.

"For miners, the best is yet to come," he said.



Largo Resources RT

 

#760
hat halt ein bißchen länger gedauert.
Bei 0,60CAD Verschnaufpause die letzten Tage,
heute weiter bis 0,68CAD(TH 0,71).
Wenn die 0,72 nachhaltig genommen wird,
sind auch 0,90CAD drin.
mfg nf

http://www.ariva.de/...reek_Metals_Blue_Pearl_Mng_t280382#jump4061505

gaanz laaangsame Trendwende - oder ein "vollendgültiges Einschlafen" ?

;-) 

 

 

wir sehen uns wieder - mit n paartausend %+ irgendwann + hoffentlich, sagt jedenfalls meine kristallglaskugel, die ist aber leicht verrußt ... *hust... ;-)

+ frohe ostern ++

 

 

May 14, 2008 09:17 ET
Largo Resources and Glencore International Enter Into Off-Take Agreement for the Maracas Vanadium Project (Brazil)

- Glencore is one of the worlds largest participants in the vanadium market

- Off-take agreement for all vanadium products produced at Maracas for the first 6 years of commercial production with a renewable option for a further 6 years

- Partnership represents significant milestone and validation of the exciting potential of the Maracas Vanadium project
TORONTO, ONTARIO--(Marketwire - May 14, 2008) - Largo Resources Ltd. (TSX VENTURE:LGO) is pleased to announce that it has entered into an off-take agreement with Glencore International AG ("Glencore") for all vanadium products produced at the Maracas vanadium project (the "Project") in Bahia, Brazil.

The agreement shall remain in effect for a six year evergreen period commencing from commercial production, and shall be renewable for a further six years.

Mark Brennan, Largo President and CEO commented: "We are happy to have been able to enter into this off-take with Glencore as they are a significant player in the global vanadium market. This marks the beginning of what we hope will be a mutually beneficial and increasingly collaborative long-term relationship with Glencore."

Based on a scoping study by Micon International in December 2007, the Measured and Indicated Mineral Resource at Maracas (Gulcari "A" Deposit) at $5.00/lb vanadium pentoxide consistent with a cut-off grade of 0.46 g/t was estimated to be 22.5 million tonnes grading 1.27% vanadium pentoxide, including a high-grade zone of 8.7 million tonnes grading 2.0% vanadium pentoxide - expected to support the first 10 years of production. Largo anticipates the production of 5,000 tonnes of Ferro Vanadium per year. The open pit mine design was based on a pit shell reflecting a $5.00/lb long-term price forecast for vanadium pentoxide that was commissioned from CRU of London, England. The base case view of the CRU forecast at the time of commissioning was that the long-term price of vanadium pentoxide would stabilise at approximately $5.00 per lb (and $23.08/kg for ferro vanadium) through 2017. Current prices for vanadium pentoxide and ferro vanadium are approximately $14.00/lb and $62/kg respectively. Largo's expected costs are anticipated to be less than $10/kg for Ferro Vanadium.

Based on the aforementioned resource estimate, Gulcari "A" has 624 million pounds of contained vanadium pentoxide and 406 million pounds of potentially recoverable ferro vanadium. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Projected revenues from the Maracas vanadium deposit are expected to be comprised of the sale of ferrovanadium alloy as the primary product and by-product revenue from the sale of leached concentrate pellets as feedstock for iron and steel production.

As announced on December 12, 2007, the feasibility study for the project is being undertaken by a team led by Aker Kvaerner of Toronto, Ontario. Largo would like to report at this time that the feasibility study is progressing well and that the targeted completion date continues to be June 30, 2008.

This press release was reviewed by Andy Campbell, P.Geo, Largo's VP of Exploration, who is a Qualified Person under NI 43-101.

About Glencore

Glencore International AG is one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers.

Headquartered in Baar, Switzerland, Glencore International AG employs over 2,000 people worldwide in some 50 offices in over 40 countries whilst our industrial operations employs over 50,000 people in 19 plants spread over 12 countries.

About Largo

Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Maracas Vanadium-PGM deposit in Brazil and the Northern Dancer Tungsten-Molybdenum deposit in the Yukon. The company is listed on the TSX Venture Exchange under the symbol LGO.

For more information please refer to Largo's website: www.largoresources.com.