Largo could survive a long time. Most of the cash burn came from investments in 2023. Ilmenite still in ramping phase; this will lead to important additional revenue with low operating costs since it's a byproduct of V mining.
I was right that there would be no dilution at these ridiculous prices when book value is over $240 million. Company is using debt financing as it should to wait out this period of low V prices. This is good for shareholders.
VRFB is still the big elephant in the room. How this will impact demand as VRFB installations ramp up is the key metric imo.
As I said before, Largo just needs to hold out while V prices are at a cyclical bottom.
Those that were calling a cash raise were wrong. That includes Ceetong and NewfNewf as the fear mongers