Largo Inc T.LGO

Investing Activities of US$4.4M in Mine PPE

[jcw604]

Can someone give further info about this Mine PPE thing?

[Clipper2]

Personal Protective Equipment  Covid-19 Safety Equipment masks, gloves, etc. If memory serves I believe Largo supplied thousands of masks etc to local residents. 

[jcw604]

Thanks for the info, Clipper! Appreciate it!

[kha341]

PPE = Properties, Plant & Equipment   Q1-20 investment in PPE = C$4.4M Q2-20  investment in PPE = US$5.2M Q3-20  investment in PPE = US$4.4M as compared to US$11.9M in Q3-19) In Q3-20 we added US$4.435M in PPE as follows: Office & Computer Equipment = 64K Mine Properties = 2,630K Machinery & Equipment = 192K Construction in Progress = 1,649K Total

[Clipper2]

Thanks for the correction kha. I thought 4.4m was rather high.  I apologise for mistake.

[jcw604]

Thanks Kha.

[kha341]

Maracas is a huge mine. The $4.4M are in line with routine upkeep + the extra $1.6M of Construction in Progress which should include the restart and ramp-up of the drilling program in Q3. 

[jcw604]

I think all these investments are necessary and fruitful as you see the dropping of production cost per lb, quarter over quarter.

[Clipper2]

I was actually referring to my reply to  to jcw604 who asked about  PPE. I suggested the amount was for  Personal Protection Equipment, and I had assumed (without checking the Q3 Report that the PPE cost was rather high and had thought it may have been an accumulation expense for  Q1, Q2, and Q3. Thanks again for clarifying kha.