Largo Resources Ltd. (TSXV:LGO) has been awarded the Best Mining Finance Award by Latin Finance magazine for the funding of the Maracas Vanadium Project in 2012.
According to the company’s press release:
The total R$556 million transaction, which was completed in June 2012 receives the Latin Finance, Best Mining Finance award for the novel nature of the non-recourse financing structure, difficult sector related market conditions, and unique aspects of the project as well as its commodity.
Largo’s President and CEO, Mark Brennan, commented
“We are enormously excited to receive yet another award in the extremely competitive project finance world (see press release March 11, 2013). I am honored to accept this award from Latin Finance magazine and hope our shareholders and the market will again join us in recognizing the great achievement Largo has achieved in financing such a unique project in an incredibly difficult financing environment. We believe that this further should demonstrate to our shareholders and market participants the extraordinary scale and quality of the Maracas project.