Largo executes new Brazilian bank facility

TSX-V-listed Largo Resources’ Vanadio de Maracás (VMSA) subsidiary has entered into definitive agreements with a consortium of existing commercial banks in Brazil for a new debt facility, as well as to restructure the export credit facilities for the Maracás Menchen mine. Largo in December signed an indicative term sheet with the banks for the new facility, which would provide it with a R$104.6-million working capital facility to be disbursed over 11 months.