TSX:LGO - Post Discussion
Post by
kha341 on Jun 24, 2024 1:40pm
Largo vs Bushveld
There are 3 primary producers of Vanadium in the world, Largo inc, Bushveld Minerals and Glencore’s Rhovan mine. In 2021, Largo with LCE and Bushveld with Cellcube decided to gamble into the vertically integrated VRFB business for the chance of taking advantage of the fast-growing, long-duration renewable energy storage market. Sadly, today both companies are struggling to stay afloat due to steep cost increases amid a decline of Vanadium prices into historical low territory. Bushveld is a dead mine walking and Largo is swimming in a sea of red ink after losing 90% of its market value. Let’s compare the share prices of the two companies.
The following charts speak volumes:
Bushveld Minerals, LSE: Down from 22.90 GBX on Jan 21 2021 to 0.30 GBX on June 24 2024. A dead mine walking.
Largo, TSX: Down from C$21.88 on May 7 2021 to C$2.67 on June 24 2024 at 1pm. A struggling mine trying to stay afloat in a sea of red ink.
Be the first to comment on this post