Largo Inc T.LGO

Alternate Symbol(s): LGO

Metals & Mining Industrial Metals & Minerals

Largo Inc. is a Canada-based producer and supplier of vanadium products. The Company’s segments include sales & trading, mine properties, corporate, exploration and evaluation properties (E&E properties), Largo Clean Energy and Largo Physical Vanadium. Its VPURE and VPURE+ products, which are sourced from one of the vanadium deposits at the Company's Maracas Menchen Mine in Brazil. The Company is also focused on the advancement of renewable energy storage solutions through Largo Clean Energy and its vanadium redox flow battery technology (VRFB). The Company is also engaged in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations, in addition to advancing its United States-based clean energy division with its VCHARGE vanadium batteries. VPURE+ Flakes are used in the production of master alloys, where it provides high strength-to-weight ratios for the titanium alloy and aerospace industries.

TSX:LGO - Post by User

Largo Inc

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Post by SKiamforsureon May 12, 2020 6:10pm

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Post# 31019495

Largo Resources Reports Solid Q1 2020 Results with Net Inco

Q1 2020 Highlights

Net income of $5.7 million and basic earnings per share of $0.01
Cash operating costs excluding royalties ¹ of US$2.79 ($3.69) per lb of V₂O₅, a decrease of 18% over Q1 2019
Production of 2,831 tonnes (6.2 million pounds ² ) of V₂O₅, a 35% increase over Q1 2019
V₂O₅ sales of 3,170 tonnes, a 51% increase over Q1 2019
Revenues of $58.2 million (after a positive re-measurement of trade receivables / payables of $2.4 million on vanadium sales from a contract with a customer of $55.8 million), an increase of 31% over Q1 2019
Cash balance of $206.1 million exiting Q1 2020
Commercial independence: Over 85% committed on annual guided sales for 2020
COVID-19 Update: The Maracs Menchen Mine continued operations during Q1 2020 and the Company is maintaining it's 2020 guidance on a "business as usual" basis
Q1 2020 operational and financial results conference call: Wednesday, May 13th, 2020 at 10:00 a.m. EST