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The US$15.5mn expansion will lift monthly production of vanadium oxide by 25% to 1,000t by June 2019. Construction is scheduled to begin in June 2018, Toronto-based Largo said in a statement.
Management believes production could be further lifted to 1,100t a month if upgrades and improvements are made to the kiln refractory.
The decision was made in response to MarMar failing to fund the project and non-compliance with various aspects of the deal, as well as not meeting environmental standards at the site, Nevada-based MexusGold said in a release.
Prospero Silver plans to raise up to Cdn$1.0mn (US$795,000) through a non-brokered private placement.
Proceeds will be used for general working capital purposes and exploration at its portfolio of Mexican assets, Vancouver-based Prospero said.