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This website is owned and operated by Largo Inc. (“Largo” or the “Company”). The materials on this website are provided by Largo as a service to its investors, customers and other interested parties and may be used for informational purposes only. By using this website, you acknowledge and agree to the terms and conditions below (the “Terms”). If you do not agree to them, do not use the website or download any materials from it.
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To the fullest extent permitted by applicable laws, Largo does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Largo be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this site. The information is not a substitute for independent professional advice before making any investment decisions.
Largo may, at any time, and without notice or liability, change, suspend, discontinue or even terminate any aspect, or the availability, of any feature of this website or impose limits on certain of its features, including restricting your access to parts or all of the website. In the event of termination, you will destroy all materials you have downloaded or copied from this website.
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The contents of this website are generally owned by Largo or are made available to you by Largo under license or with permission from a third party. While Largo is allowing you access to this website, you acknowledge that your use of that content is governed by applicable copyright, trademark or other intellectual property laws. You also agree that this website and the information it contains may not be modified, copied or reproduced in any form, electronic or otherwise, for commercial use or distribution, or posted to other websites, without the prior express consent of Largo. Other than a limited, non-exclusive and revocable permission to make personal and non-commercial use of the site for the purposes for which Largo has made it available, Largo does not grant any express or implied right to you to any of the content of this website under any existing or theoretical laws or legal theories relating to intellectual property or other proprietary rights, including, without limitation, patent, copyright or trademark. Any rights not expressly granted to you in these Terms are expressly reserved by Largo. For greater certainty, you agree that you will not take any action that is inconsistent with Largo ownership of the site and/or the Largo ownership of, or any third party’s ownership of, any site content.
Largo may provide links or references to websites operated by third parties. If you access or use these sites through such links or otherwise, you acknowledge that you will be immediately leaving Largo’s website. Other websites are subject to their own terms and privacy policies, for which Largo is not responsible. In visiting any third party sites you visit, whether linked to Largo’s website or otherwise, any consequences thereof will be at your own risk and you assume all responsibility in that regard. Largo makes no warranty or representation regarding, and does not endorse, any linked website or any content in that website. No third-party link on the Largo website implies that Largo endorses, or is affiliated or associated with, or is legally authorized to use any trademark, trade name, logo or copyright symbol of the third party link or vice versa.
Stock Quotes
This website contains links or references to the quoted price for Largo’s securities, which are listed on the Toronto Stock Exchange and NASDAQ. All stock quotes and historical stock price data are provided by third party service providers and are provided for informational purposes only and are not intended for trading purposes. If you are contemplating trading in the securities of Largo, we strongly advise you to seek independent professional advice before making any investment decision. Largo does not warrant either the timeliness or the accuracy of these quotations and does not assume nor will it bear any responsibility for any damages purported to have incurred by a user relying on such quotations.
Website Provided as a Service Only
The Largo website is not intended as a solicitation or offering of securities for sale in any jurisdiction. None of the contents of Largo’s website is intended to provide you with any financial, accounting, tax or legal advice, nor are the contents the official versions required to be disclosed in accordance with applicable securities laws. The information on this website is not intended to modify, quality, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Largo and should not be used for the purpose of making investment decisions concerning Largo securities.
No information included in this website shall be deemed to be incorporated by reference into any of Largo’s regulatory filings, unless expressly indicated in any such filings. In addition, no information is incorporated by reference into this website, unless otherwise specified.
Currency of Information
There is no guarantee that documents and information contained on this website are current or the most current or accurate sources of information, financial or otherwise, about Largo. Unless otherwise indicated, all information posted on this website is current only as of the date of the document that contains the information, if indicated, or the date on which the document is posted, whichever is earlier. Largo may at any time make changes to the information on this website without prior notice.
Forward-looking Information
This website contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws (together, “forward-looking information”) concerning the Company’s projects, capital, anticipated financial performance, business prospects and strategies and other general matters. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking information. The use of words such as “intend”, “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may constitute forward-looking information.
Statements relating to mineral resources are also forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources described can be profitably produced in the future. There is no certainty that it will be commercially viable to produce any portion of the mineral resources.
Forward-looking information includes, without limitation, statements with respect to: the Company’s sales operations and anticipated sales of vanadium products, ilmenite and TiO2 and vanadium redox flow battery products; the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; eventual production from the Ilmenite Plant and/or the titanium project; the Company’s ability to sell ilmenite, titanium dioxide pigment, V2O5 or other vanadium commodities on a profitable basis; the Company’s ability to produce V2O5, FeV and V2O3 according to customer specifications; expectations regarding the continuity of mineral deposits; future prices of V2O5, V2O3, TiO2 and ilmenite; future production at our Maracás Menchen mine; the extent and impact of global freight delays and higher inventory transit time; the Company’s ability to build, finance and operate a profitable vanadium redox flow battery (“VRFB”) business including the expected manufacturing capacity of the Largo Clean Energy Corp. (“LCE”) plant; the projected timing and cost of the completion of the Enel Green Power España (“EGPE”) project; the competitiveness of the Company’s VRFB products in the long duration energy storage systems market; LCE’s ability to execute on its business strategy including exploring and evaluating potential strategic alternatives to maximise shareholder value; the Company’s ability to maintain, protect and develop its intellectual property and technology; the Company’s ability to market, sell and fulfill orders for its VCHARGE battery system on specification and at a competitive price; the Company’s ability to secure the required resources to build its VCHARGE battery; the adoption of VRFB technology generally in the market; the cost of producing and implementing the VRFB products; the impact of the ongoing conflict between Russia and Ukraine, including the potential for broader economic disruption; the results in the Technical Report including resource estimates; expectations regarding any environmental issues that may affect planned or future exploration and development programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of third party approvals; government regulation of mineral exploration and development operations in Brazil; expectations regarding any social or local community issues in Brazil that may affect planned or future exploration and development programs; and statements in respect of V2O5, V2O3, TiO2, ilmenite, and long duration energy storage (“LDES”) systems demand and supply.
These statements and information are only predictions based on current information and knowledge, some of which may be attributed to third party industry sources. Actual future events or results may differ materially. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not be realized.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; the continued and growing demand for LDES systems and the movement towards a low-carbon future; demand for, and stable or improving price of, V2O5, V2O3, FeV, ilmenite, TiO2 and other vanadium commodities; that the estimates of the mineral resources and mineral reserves at the Maracás Menchen mine are within reasonable bounds of accuracy (including with respect to size, grade and recovery and the operational and price assumptions on which such estimates are based); that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company’s operations at the Maracás Menchen mine or relating to LCE; the availability of financing for operations and development; that the Company will enter into agreements for the sales of vanadium, ilmenite and TiO2 products on favourable terms and for the sale of substantially all of its annual production capacity; the Company’s ability to mitigate the impact of future rainfall; the Company’s ability to protect and maintain its intellectual property underlying its VRFB technology; that the Company will enter into agreements for the sale of its VRFB products on favourable terms and at a sufficient volume to be profitable; the benefit of Largo Physical Vanadium Corp. (“LPV”) to Largo’s VRFB business and the vanadium market generally; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; the Company’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the competitiveness of the Company’s VRFB technology; that the Company’s plans for iron ore, ilmenite, titanium dioxide pigment and VRFBs can be achieved; the potential impact of the ongoing conflict between Russia and Ukraine on the Company, including any effects of the evolving sanctions against Russia and Russian entities on the Company’s sales and trading arrangements; the Company’s ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.
Actual results could differ materially from those anticipated in this forward-looking information as a result of the risks and uncertainties including, without limitation: volatility in prices of, and demand for, V2O5, V2O3, FeV, ilmenite, TiO2 and other vanadium commodities; uncertainties regarding the rate of inflation and its effect on the profitability of long-term contracts; unexpected operational events and delays; risks inherent in mineral exploration and development; uncertainties associated with estimating mineral resources and mineral reserves (including with respect to size, grade and recovery and the operational and price assumptions on which such estimates are based); uncertainties related to title to the Company’s mineral projects; risks inherent with the introduction and reliance on recently developed VRFB technology; revocation of government approvals; tightening of the credit markets, global economic uncertainty and counterparty risk; failure of plant, equipment or processes to operate as anticipated; competition for, among other things, capital and skilled personnel; geological, technical and drilling problems; fluctuations in foreign exchange or interest rates and stock market volatility; rising costs of labour and equipment; disruption caused by labour actions; risks associated with political and/or economic instability in Brazil; compliance with applicable sanctions regimes; inherent uncertainties involved in the legal dispute resolution process, including in foreign jurisdictions; changes in income tax and other laws of foreign jurisdictions; as well as those risk factors included herein and elsewhere in the Company’s public disclosure, including but not limited to those described in the “Risk Factors” section of the Company’s latest annual information form and the “Risks and Uncertainties” section of the Company’s latest management discussion and analysis, which are available on SEDAR+ at www.sedarplus.ca under the Company’s profile and available on www.sec.gov.
Assumptions relating to the potential mineralisation of the Maracás Menchen mine are discussed in the National Instrument 43-101 (“NI 43-101”) technical report titled “An Updated Life of Mine Plan (LOMP) for Gulçari A (Campbell Pit) and Pre-Feasibility Study for Gulçari A Norte (GAN), Novo Amparo (NAO), Novo Amparo Norte (NAN) and São José (SJO) Deposits” (the “Technical Report”), which is available under the Company’s profile on SEDAR+ and available on www.sec.gov. NI 43-101 requires that each category of mineral reserves and mineral resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Largo does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Cautionary Note to U.S. Readers Concerning Estimates of Measured, Indicated or Inferred Resources
Disclosure regarding the Company's mineral properties, including with respect to Mineral Reserve and Mineral Resource estimates included in this technical report, was prepared in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
The terms “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” are Canadian mining terms as defined in accordance with NI 43- 101 and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) – CIM Definition Standards on Mineral Resources and Mineral Reserves (the “CIM Definition Standards”), adopted by the CIM Council, as amended.
The United States Securities and Exchange Commission (SEC) adopted amendments to its disclosure rules (the “SEC Modernization Rules”) to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934 (the “U.S. Exchange Act”), which are codified in Regulation S-K subpart 1300. Under the SEC Modernization Rules, the historical property disclosure requirements for mining registrants included in SEC Industry Guide 7 have been replaced. As a foreign private issuer under United States securities laws that files its annual report on Form 40-F with the SEC pursuant to the multi-jurisdictional disclosure system (MJDS), the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. If the Company ceases to be a foreign private issuer or loses its eligibility to file its annual report on Form 40-F pursuant to the MJDS, then the Company will be subject to the SEC Modernization Rules.
The SEC Modernization Rules include the adoption of terms describing Mineral Reserves and Mineral Resources that are substantially similar to the corresponding terms under the CIM Definition Standards. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to the corresponding CIM Definition Standards.
Shareholders resident in the United States are cautioned that while terms are substantially similar to CIM Definition Standards, there are differences in the definitions and standards under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any Mineral Reserves or Mineral Resources that the Company may report as “Proven Reserves”, “Probable Reserves”, “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources” under NI 43-101 will be the same as the Reserve or Resource estimates prepared under the standards adopted under the SEC Modernization Rules.
Shareholders resident in the United States are also cautioned that while the SEC now recognizes “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of Mineral Resources or into Mineral Reserves. Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as “Reserves”. Accordingly, investors are cautioned not to assume that any “Measured Mineral Resources”, “Indicated Mineral Resources”, or “Inferred Mineral Resources” on the Company's projects are or will be economically or legally mineable.
Further, “Inferred Resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, shareholders resident in the United States are also cautioned not to assume that all or any part of the Inferred Resources exist. In accordance with Canadian rules, estimates of “Inferred Mineral Resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.
Accordingly, the information contained on this website describing mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under United States federal securities laws and the rules and regulations thereunder. Shareholders resident in the United States are urged to consider closely the disclosure on technical terminology under NI 43-101.
Technical Information
Mr. Emerson Ricardo Re, MSc, MBA, MAusIMM (CP) (No. 305892), Registered Member (No. 0138) (Chilean Mining Commission), is a Qualified Person as defined under NI 43-101 and has reviewed and approved the technical information on the website. The information contained herein is subject to all of the assumptions, qualifications and procedures set out in Technical Report and reference should be made to the full details of the Technical Report.
Disclaimer
To the fullest extent permitted by applicable laws, this website is provided on an “as is” basis and the reader is using it as his, her or its own risk. Largo makes no representations or warranties, express or implied, about the website or its contents including, without limitation: any warranties as to the operation, availability or stability of this website; any warranties as to the accuracy, completeness or timeliness of its contents; any warranties as to the merchantability or fitness of any such information or content for any particular purpose; or any warranties as to non-infringement of any rights, including, without limitation, intellectual property rights and including the transmission of any such content from the website to you. Any implied warranties, whether statutory or otherwise, on any such matters are hereby expressly excluded to the full extent permitted under applicable laws.
In accessing this website or any other you assume all risk associated with any viruses, worms, trojan horses and other destructive items. You should take any necessary precautions before you access this website in respect of any such potential risks.
In no event will largo be liable to you or any other person or entity for any kind of damages arising directly or indirectly out of the use or unavailability of this web site, even if largo or such person or entity has been advised by you of the possibility of such damages.
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General
If any provision of these Terms is held invalid or unenforceable by any court having competent jurisdiction, such provision shall be enforced to the maximum extent permitted by law, and the remaining provisions of these Terms shall continue in full force and effect. No failure to exercise or waiver of any provision of these Terms shall be deemed a further or continuing waiver of such provision or any other provision of these Terms.
These Terms are binding upon you, your heirs, executors, beneficiaries, successors and assigns and you may not assign this agreement to any other party without our prior written consent, which consent may be withheld in our sole and absolute discretion.