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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

Post by st_estebanon Dec 14, 2020 5:03pm
178 Views
Post# 32102627

Glencore's portion of Largo's sales

Glencore's portion of Largo's sales
How much was Glencore retaining for every pound of Vanadium being sold?

We know that at least 50% of the premium for high purity sales was kept by Glencore.  But what does it mean the following statements from the Q3 CC:

"Revenues per pound sold increased by 34% to $5.37 in Q3, 2020 which compares to $4.02 per pound sold in Q3...We are very pleased to highlight the increase in revenues per pound sold which demonstrates both the strategic and economic benefits associated with Largo's transition to independent commercial sales
...
For Q3 2020 the average price that pound of V2O5 in Europe was $5.33 compared to $7.16 in the Q3 of 2019."

In Q3 2020 we made 5.37 per pound sold when the average market price was 5.33 (in Europe). Therefore, Largo sold arond this price.  But in Q3 2019, even when the average market price per pound was 7.16 we only made 4.02 which is a huge discount.  Did Glencore retain the difference, more than 3 dollars per pound?
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