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Largo Inc T.LGO

Alternate Symbol(s):  LGO

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

Bullboard Posts
Post by Wells Largoon Oct 19, 2020 7:37am
116 Views
Post# 31737743

...and now to Q3, much better...

...and now to Q3, much better...Largo Resources Announces Record Operational Performance in Q3 2020 with V2O5 Production of 3,092 Tonnes and Lowers 2020 Cost Guidance October 19, 2020, 7:00 AM9 mins read Record V2O5 production of 3,092 tonnes (6.8 million lbs1) in Q3 2020, a 5.0% increase over Q3 2019 Total sales exceeded production levels in August and September 2020 for the first time since commercial independence, highlighting successful rollout of the Company's strategy Record global V2O5 recovery rate2 of 84.2% in Q3 2020, an increase of 8.0% over Q3 2019 2020 cash cost guidance reduced: Cash operating cost excluding royalties3 guidance lowered to US$2.60 $2.80 / lb V2O5; Total cash cost3 guidance lowered to US$3.20 to $3.40 / lb V2O5 Postponing cost-efficient nameplate capacity increase to Q1 2021: Planned kiln upgrades and cooler maintenance that will increase Largo's production capacity by 10% with a CAPEX of only US$1.3 million are postponed to Q1 2021 due to COVID-19 restrictions Focus on safe business continuity: On track to meet lower end of 2020 production guidance with strong production results expected in Q4 2020; 2020 sales guidance maintained Strong vanadium demand in Q3 2020 in China from increased infrastructure spending on the back of recently announced stimulus packages as well as development of green technology applications to meet carbon footprint reduction targets Largos line of VPURE+™ products are among the highest purity vanadium flake and powder products, globally. (CNW Group/Largo Resources Ltd.) TORONTO, Oct. 19, 2020 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) is pleased to report third quarter 2020 production and global sales results from its Maracs Menchen Mine highlighted by a new quarterly production record of 3,092 tonnes (6.8 million lbs1) of vanadium pentoxide ("V2O5") and a new record global recovery rate2 of 84.2%. Paulo Misk, President and Chief Executive Officer for Largo, stated: "The health and safety of our workforce continues to remain a top priority for Largo and our focus on preventative measures early on has enabled the Company to continue operations in a safe manner since March 2020. In Q3 2020, operations performed exceptionally well with the Company achieving a new quarterly V2O5 production record of 3,092 tonnes and a new quarterly global recovery2 rate record of 84.2%. The Company has also reduced its cash operating cost excluding royalties3 and total cash cost3 guidance for 2020 to US$2.60 - $2.80 and US$3.20 - $3.40 / lb V2O5, respectively. This reflects our positive year-to-date performance and the Company's expectations for the balance of the year. Additionally, the Company is on track to meet the lower end of its 2020 production guidance of 11,750 12,250 tonnes of V2O5 and we look forward to ending the year on another high note. I am very proud of the entire operations team as they continue to demonstrate their ability to effectively meet and exceed operational targets, especially during these uncertain times."
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