This is a message I sent to Largo This is a message I sent to Largo
Mr. Guthrie
I would like to make the same statement as Leon Cooperman did
As a shareowner of Largo
I would like Largo to remain debt free
And NOT Borrow money to buy back stock
Being debt free and solvent
Is more important
Try and keep the shareowners and the investing community up on the good that Largo is doing
Keep Largo on the move!
Thank you as always
SK
Largo should stay strong, continue to improve
And hope for a better Vanadium price improvement
Do not make any moves that would put Largo back in debt!
In my humble opinion and my 2 cents worth
2020 will be better for all of us Largo shareowners J
The Company has forecast its expected cash balance and the estimated revenue adjustment payable8 at April 30, 2020 (the end date of the May 14, 2008 off-take agreement with Glencore International AG) under three different vanadium price scenarios. Each scenario assumes that the vanadium price shown in the table below applies from October 31, 2019 to April 30, 2020 and assumes that the Company sells 100% of its production during this period, constant foreign exchange rates and cash operating costs per pound produced2 consistent with results to date. The forecast balances, which constitute forward-looking information, are shown in the following table:
Forecast cash at April 30, 2020
Vanadium average price
US$4.00 Largo would have Remeasurement = 103,738
$ 27.522 cash reserves Remaining 4-20-2020
US$4.73 = Remeasurement = $95,463
42,642 cash reserves Remaining 4-20-2020
US$5.50 = Remeasurement = 58,101
58,101 cash reserves Remaining 4-20-2020
Estimated revenue adjustment payable8 at April 30, 2020
Approximate Net US $