Largo Restructures $82.2 Million Debt to Extend Maturity to 2030

Largo signed a binding agreement with a syndicate of major Brazilian banks to restructure approximately $82.2 million of outstanding debt. The deal resolves a refinancing bottleneck scheduled for September by extending the final maturity date to March 2030.

Under the new terms, the company receives a six-month grace period on principal payments, followed by three years of quarterly amortization and monthly interest payments. The company plans to use this financial flexibility to execute operational plans at the Maracas Menchen mine and increase production of copper-platinum-group-metals concentrate.

In a separate operational development, the company is preparing its first $60 million shipment of high-purity vanadium pentoxide for the U.S. Defense Logistics Agency. Following the debt restructuring announcement, Largo shares rose 11% to 1.01 Canadian dollars in Toronto.