Imagine life without Largo’s energy storage pillar
NewfNewf: "I was fortunate to sell all my shares after the battery announcement run up a few years ago as i simply did not like a miner getting into the battery business"
Dead-on!
The energy storage pillar has not yet generated a single $ of revenue since its inception in 2021.
In 2021 the total costs (including Finance costs) associated with running LCE = US$10.3M without which Largo’s actual Net Income of US$22.6M would increase to US$32.9M or an EPS of 52 cts instead of the actual 35 cts for 2021.
In 2022 the total costs (including Finance costs) associated with running LCE + LPV = $26.8M + $1.40M = US$28.2M without which Largo’s actual Net Loss of (US$2.2M) would turn into a Net Income of US$26.0M or a positive EPS of 40 cts instead of the actual negative EPS of (3 cts) for the year.
In 2023 the total costs (including Finance costs and LPV’s write-down of V assets) associated with running LCE + LPV = $19.4M + $6.0M = US$25.4M = ~80% of Largo’s actual Net Loss (US$32.4M) for the year. Without LCE+LPV, Largo’s actual Net Loss would be down to (US$7.0M) or a negative EPS of (11 cts) instead of the actual (51 cts) for 2023.
2023, in US$000