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Wednesday, 4 September 2013
Largo Resources appoints Ernest Cleave as CFO
Largo Resources (CVE:LGO) has appointed Ernest M. Cleave to the position of CFO, as the company prepares for first production from its flagship Maracas project in Brazil next year.
Cleave, a professional with more than 20 years of experience in finance strategy and reporting, will be taking over from John V. Laurie, who has retired and will remain as a financial consultant with the company going forward.
Cleave previously served as director, CFO, and corporate controller for large multi-national companies in the mining, manufacturing, and retail sectors, according to a company release, including Goldcorp (TSE:G), Falconbridge Limited and Cline Mining.
"We are pleased to welcome Mr. Cleave to the team and believe that his past experience will prove very valuable as Largo evolves into a producing company in the near-term," said president and CEO Mark Brennan in a release Wednesday.
The Canadian strategic mineral company is focused on developing its vanadium and tungsten projects in Brazil and Canada. The primary focus is to continue to advance its flagship Maracas vanadium project with the company targeting a production start date in first quarter of next year. The project, which is fully funded, permitted and in construction, is slated to be the world's "premier producer of vanadium", according to the company, due to its high grade and low operating costs.
In a recent company update, Largo said the majority of system areas at the Maracás project remain on track for commissioning in the fourth quarter of the current calendar year. The 27,000-hectare property is located 813 kilometres northeast of Brasilia, the capital of Brazil, and 250 kilometres southwest of Salvador, the capital of Bahia State.
In another update Wednesday, the company said nine trucks loaded with shells for the kiln and cooler arrived at the Maracas project site. "Once the kiln is placed upon the rollers atop its approximately 14 meters tall pedestals it will certainly be the largest and most distinct feature at the project site," the statement read.