Largo Inc T.LGO

Alternate Symbol(s): LGO

Metals & Mining Industrial Metals & Minerals

Largo Inc. is a Canada-based producer and supplier of vanadium products. The Company’s segments include sales & trading, mine properties, corporate, exploration and evaluation properties (E&E properties), Largo Clean Energy and Largo Physical Vanadium. Its VPURE and VPURE+ products, which are sourced from one of the vanadium deposits at the Company's Maracas Menchen Mine in Brazil. The Company is also focused on the advancement of renewable energy storage solutions through Largo Clean Energy and its vanadium redox flow battery technology (VRFB). The Company is also engaged in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations, in addition to advancing its United States-based clean energy division with its VCHARGE vanadium batteries. VPURE+ Flakes are used in the production of master alloys, where it provides high strength-to-weight ratios for the titanium alloy and aerospace industries.

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Largo Inc > Q4 production

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Comment by SKiamforsureon Jan 17, 2022 8:16am

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Post# 34323577

RE:Q4 production

Q4 and FY 2021 Highlights

Quarterly sales of 2,899 tonnes of V₂O₅ equivalent in Q4 2021 vs. 3,751 tonnes in Q4 2020; Annual V₂O₅ equivalent sales of 11,393 tonnes in 2021, representing an 11% increase over 2020 and exceeding lower-end of 2021 V₂O₅ sales guidance (11,200 – 11,800 tonnes)
Quarterly V₂O₅ production of 2,003 tonnes (4.4 million lbs¹) in Q4 2021 vs. 3,340 tonnes in Q4 2020, which was the Company’s historic record quarterly production; Annual V₂O₅ production of 10,319 tonnes (22.7 million lbs¹) in 2021 vs. 11,825 tonnes in 2020
Quarterly global V₂O₅ recovery of 76.0% in Q4 2021 vs. 80.6% in Q4 2020; Annual global V₂O₅ recovery of 79.7% in 2021 vs. 81.4% in 2020
Q4 2021 operational results were impacted by heavy rainfall at the Company’s Maracs operations in November and December

2022 Guidance

Operating, Sales and Cost Guidance:
- V₂O₅ Equivalent Production and Sales of 12,000 – 12,750 tonnes
- Cash Operating Cost Excluding Royalties⁴ of $3.20 – 3.40/lb V₂O₅ sold
- Vanadium Distribution Costs of $7.0 – 8.0 million
- Corporate and Sales & Trading G&A of $10.0 – 11.0 million
- Largo Clean Energy G&A of $15.0 – 18.0 million
Capital Expenditures Guidance:
Sustaining⁵ of $9.0 – 10.0 million
Ilmenite Concentration Plant of $29.0 – 30.0 million
Titanium Dioxide (“TiO₂”) Pigment Processing Plant of $9.0 – 10.0 million
Capitalized Stripping of $10.0 – 11.0 million
Carry-Over of $2.0 – 3.0 million
Largo Clean Energy capital expenditures of $1.5 – 2.5 million
The Company expects to deliver its first VCHARGE vanadium redox flow battery (“VRFB”) sales contract with Enel Green Power Espaa in Q3 2022
Planned 6-day Maracs processing shutdown in January: The Company has planned this to perform maintenance on its plant cooler engine system and power substations; V₂O₅ equivalent production is expected to be in the range of 750 – 800 tonnes in January