Cash is king 2019
We started the year with C$206.2M in Cash.
The net reduction in Cash for the year was (C$40.1M). Only a reduction of (C$40.1M) even after paying off C$125M in long term debt..
So our Cash Position at the end of 2019 was C$166.1M (= 206.2 - 40.1). A great achievement considering the fact that we had paid off the entire long term debt, and despite the fact that we registered a Net Income Loss of (C$36.2M) for the year.
Q1-2020
We started Q!-20 with C$166.1M
The net Cash provided by Operating Activities was 11.6M despite the fact that our net income for the same period was only C$5.7M
Our Cash Position at the end of Q1-20 was C$206.1M including a new debt of ~C$33.2M
In other words, Largo is still a cash machine making more money than what we see on the Net Income (Loss) bottom line.