Largo agrees to reduce lender disbursements should V2O5 prices rise

Brazil-focused vanadium miner Largo Resources has signed an agreement under which its group of lenders will reduce its disbursements to the company should the vanadium pentoxide price increase above certain thresholds.

Where the V2O5 price is $5.49 per lb or less over a twelve-week trailing period, there will be no change in disbursements to Largo. Between $5.50 and $5.99 per lb, there will be a 10% reduction in disbursements by lenders, the company said on Wednesday July 12 Disbursements to Largo, agreed in January this year, will decrease on a sliding scale should the V2O5 price increase up until a price at or above $8 per...

Published

Charlotte Radford

July 12, 2017

21:14 GMT

London