Financing ·
Largo Inc. secured a binding term sheet to restructure approximately US$82.2 million of outstanding commercial bank…
LGOLargo Inc.
Largo Inc. secured a binding term sheet to restructure approximately US$82.2 million of outstanding commercial bank debt held by its Brazilian subsidiary, Largo Vanádio de Maracás S.A. The agreement extends the final maturity date from September 2026 to March 2030 and includes a six-month principal amortization grace period followed by 36 months of quarterly payments with monthly interest. This restructuring preserves near-term liquidity, allowing management time to execute operational plans at the Maracás Menchen Mine, ramp up copper-PGM concentrate production, and fulfill a US$60 million vanadium pentoxide order for the U.S. Defense Logistics Agency. The transaction remains subject to definitive documentation and customary closing conditions. Largo Inc. operates in the mining industry as the world's largest primary vanadium producer.