Largo to raise capital after Maracás runs over budget
Dec 02, 2013 | 01:34 PM
| Daniel Fitzgerald
NEW YORK Largo Resources Ltd. has announced a Canadian $17-million ($16-million) nonbrokered private placement of 85 million common shares after delays in the construction of its Maracás vanadium mine in Brazil saw the project run $18 million over its original budget.
Largo anticipates that about C$15 million ($14.1 million) of the offering will be purchased by funds managed by New York-based private equity firm Arias Resource Capital Management LP (ARC), while the remaining C$2 million ($1.9 million) will be purchased by Largo shareholders.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.