- Maracas Project Now Ready to Enter Into Construction Phase
TORONTO, ONTARIO -- (Marketwire) -- 11/10/11 -- Largo Resources Ltd. (TSX VENTURE: LGO) ('Largo' or the 'Company') is pleased to announce that Vanadio de Maracas Ltda., a 100% owned Brazilian subsidiary of Largo, has received binding commitments from a consortium of commercial banks led by Banco Itau BBA S.A. ('Itau BBA'), a subsidiary of Itau Unibanco Group and one of Brazil's leading banks, for guarantees of a Brazilian Development Bank ('BNDES') loan facility in the principal amount of up to US$150 million for the development of its Maracas Vanadium Project in Bahia State, Brazil.
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