The company produced 780 tonnes of vanadium pentoxide (V2O5) during the month, surpassing by 7% its previous record for monthly production of around 730 tonnes set the month before.
On 23 May it achieved a new daily production record of 34 tonnes of V2O5, some 28% above the daily nameplate capacity of the plant.
Completing a banner period for the company, it set a new weekly production record of 198 tonnes of V2O5 during the week of May 24, 2016, equivalent to around 28.3 tonnes per day, or 107% of nameplate capacity.
"With two months of consistent and record-breaking production, our production team in Maracas has once again demonstrated the ongoing success of the project,” said Mark Smith, president and chief executive officer of Largo.
“Largo is on the cusp of achieving nameplate capacity with these records and together with cost-efficiencies, improved operational performance and an increase in V2O5 price, the company will continue to be focused on creating strong shareholder value," Smith continued, adding that Largo is on track to have a successful year.
Shares were up 1.8% at C$0.57 in early trading.