08:19 AM EST, 11/26/2024 (MT Newswires) -- Largo (LGO.TO, LGO) on Tuesday said it filed a technical report for its Maracas Menchen vanadium-titanium operation in Brazil to regulators.

In studies released on Oct. 28, the company reiterated a life of mine plan that raised operating mine life by 13 years - for a total of 31 years - to 2054.

"The filing of this technical report provides a comprehensive update on our Maracas Menchen Mine, underscoring significant extensions in mine life and valuable vanadium and titanium resource growth among multiple deposits," interim chief executive Daniel Tellechea said in a release.

The October report showed total proven and probable reserves increased from the 2021 technical report to 101 million tonnes grading 0.56% vanadium oxide, representing a 67% increase in total mineral reserves.

Measured and indicated resources also rose 64% to 104.8 million tonnes grading 0.62% vanadium oxide and 8.31% titanium dioxide.

Largo shares closed up $0.05 to $2.88 Monday on the Toronto Stock Exchange.