Largo Inc T.LGO

RE:major shareholders

[SKiamforsure]

The company performed well on a unit cost basis, achieving a cash operating cost excluding royalties of $2.79 per pound in Q1 2020, which represents a decrease of 18% over Q1 2019. For Q1 2020, total cash costs were $3.01 per pound of V2O5. We are very pleased to report the company’s achieved commercial independence in April 3, 2020 following the expiration of its off-take agreement. We are over 85% committed on our annual sales guidance for 2020 and the company expects the balance will be sold in the spot market and be used to build safety stocks in strategic regional hubs. The company expects Q2 2020 to be a transition quarter where sales will be lower and inventory may increase mainly due to a longer period of time between production and revenue recognition as a compared to the terms under our previous off-take agreement.
"The company performed well on a unit cost basis, achieving a cash operating cost excluding royalties of $2.79 per pound in Q1 2020, which represents a decrease of 18% over Q1 2019. For Q1 2020, total cash costs were $3.01 per pound"

 

But looking at the presentation, costs seem like they are going higher for the rest of the year.

 

From the presentation for 2020 Year:
Cash Operating $3.15
Cash Operating $3.55

 

But given the costs for Q1, that would imply for 2020 Q2 - Q4 costs of:
Cash Operating $3.27
Cash Operating $3.73