RE:RE:RE:RE:RE:Glencore 's Re-measurement of Trade ReceivablesHope you are right Clip...but based on what KHA stated on a recent message (excerpt below) it would seem that lower prices actually disfavour us (Largo) from a remeasurement perspective... am i missing something ?? Logically if Glencore picks up and recognizes an MB price (step 1) say today and down the road in 6 months the MBspot is much lower (say 30% lower) then when Glencore declares the official sale in 6 months it will have received much less revenue from its end client and hence will require a remeasurement difference from Largo ( to make up for the difference of what was invoiced 6 months prior and the 30% lower spot when G sells to client)
"In 2018 V2O5 prices soared to levels not seen in decades and the annual re-measurement was $66M in favour of Largo. In the first 3 Qs of 2019 V2O5 prices went down about 60% and the re-measurement already reached $124M in favour of Glencore."