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Largo Resources Ltd. has received approval from The Nasdaq Stock Market to list its common shares, starting April 19, 2021, under the symbol 'LGO'. This listing is anticipated to enhance visibility among U.S. investors, improve liquidity, and diversify the shareholder base as Largo develops its U.S.-based Clean Energy division into a leading vanadium redox flow battery business. The company will maintain its listing on the Toronto Stock Exchange as well. The listing is subject to fulfilling all regulatory requirements.
Largo Resources Ltd. (TSX: LGO) (OTCQX: LGORF) has announced the appointment of Ian Robertson to its Board of Directors. Alberto Arias, Non-executive Chairman, highlighted Robertson's significant contributions to the renewable energy sector, particularly at Algonquin Power & Utilities Corp., and his experience in overseeing sustainable energy initiatives. With over 30 years in global energy, Robertson's leadership is expected to enhance Largo's Clean Energy division, contributing to the company's commitment to sustainable development and renewable energy storage solutions.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) announces a consolidation of its common shares, with a ratio of 1:10. This will take effect on March 8, 2021, and is aimed at facilitating a listing on the Nasdaq to enhance shareholder value and access to U.S. capital markets. Shareholders will receive details on converting their existing shares to post-consolidation shares. The consolidation will adjust outstanding options and warrants accordingly. The company remains committed to maintaining its TSX listing and is focused on advancing its clean energy initiatives.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) announced record operational results for 2020, exceeding annual sales guidance by 260 tonnes. The Maracás Menchen Mine achieved a production record of 11,825 tonnes of V2O5, marking a 12% increase over 2019. The company aims to produce 12,000-12,500 tonnes of V2O5 in 2021, with sales projected to rise by 22%. Largo is also focusing on its clean energy initiative, aiming to capitalize on the renewable energy storage market. Costs are expected to remain low, with cash operating costs between $3.10-$3.30 per pound sold.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) will hold a Special Meeting of Shareholders on March 1, 2021, with a Record Date of January 25, 2021. The meeting's purpose is to seek shareholder approval for a share consolidation of up to 1 post-consolidation share for 10 pre-consolidation shares. Concurrently, the Board is considering a potential U.S. listing to enhance access to capital markets and shareholder value, particularly for its Largo Clean Energy division, which focuses on vanadium redox flow battery solutions.
