Largo Restructures Debt, Begins Copper-PGM Concentrate Sales
Largo Inc. (NASDAQ:LGO) announced a debt restructuring agreement with Caixa Econômica Federal and extended the maturity of a $6 million promissory note with ARG International AG to February 2028 from February 2027, subject to a fee. The company expects similar agreements with other Brazilian lenders. Largo is temporarily reducing mining activity as it processes stockpiles, which will result in vanadium production for 2026 falling at the lower end of its guidance range due to higher input costs and operational adjustments. Additionally, Largo has completed initial sales of copper-PGM concentrate expected to generate $4.7 million in cash proceeds during September. The company also announced a shipment under its contract with the US Defense Logistics Agency is set for late September 2026. High-purity vanadium products are anticipated to make up more of Largo's sales mix in 2027 than this year.
Topics: copper-PGM sales debt restructuring vanadium production guidance