Largo Resources inks $12 mln bridge loan deal with Arias
Largo Resources Ltd (TSX-V: LGO) has received a $12 million non-revolving, convertible term loan facility from U.S. private equity firm Arias Resource Capital Management, an existing investor in the mining company. Proceeds of the loan will help finance development costs and general corporate purposes related to Largo's Vanadio de Maracás Menchen Mine in Brazil. Last October, Arias made a $15 million investment in the Toronto-based company, increasing its stake to up to 33.7 percent of outstanding common shares. Largo also has mining projects in Canada.
12 March 2015•6 mins read
