Still more questions from the MD&A "No Revenues
To date the Company has recorded no revenues from operations. The Company is now producing tungsten at it its Currais Novos property and issued its first invoice in December 2011 but this property is still at the development stage as it has not reached 70% of its design capacity, at which point it would be considered to be in commercial production and would begin recognizing revenue. There can be no assurance that significant losses will not occur in the near future or that the Company will be profitable in the future. The Company’s operating expenses and capital expenditures may increase in subsequent years for consultants, personnel and equipment associated with advancing exploration, development and commercial production of the Company’s properties. The Company expects to continue to incur losses unless and until such time as it enters into commercial production and generates sufficient revenues to fund its continuing operations. The development of the Company’s properties will require the
commitment of substantial resources to conduct time-consuming development. There can be no assurance that the Company will generate any revenues or achieve profitability.
*After a year they aren’t at full production but Largo STILL feels the need to include these caveats in their boiler plate? Not impressive. Nor do we know the company that we have an off-take agreement with. That entitiy also also made Largo the loan to develope Currais Novos. So Largo takes the risk, incurs the expense, enters into an off-take with whomever and we owe how much money to them? Impressive, Mark