RE:Glencore's portion of Largo's salesst_esteban wrote:
How much was Glencore retaining for every pound of Vanadium being sold?
Hidden behind its contractual confidentiality / non disclosure obligations the Glencore deal with its discounts / re-measurement adjustments and other special agreements is a mystery to us all (small fry, smart investors, financial analysts, and other stakeholders).
Let's just say that management let G take us to the cleaner for some US$200M.
We are now in the post G era so let's focus on the future potentials of the commercially independent Largo and forget about the stupid G-deal mistake of the past. The future is very bright indeed.
Q2-20 CC wrote:
Lee Cooperman
Okay. Second – this is a difficult question, but most cyclical businesses have peak earnings, trough earnings and average earnings over a cycle. Do you fellows have a view of your normalized earnings as an enterprise? And the reason I asked that, I go back, I think the current market cap is US$489 million, minus the US$53 million of net cash. We have an enterprise value of US$436 million. I believe you guys have repeatedly said in the past that the Glencore contract costs you US$200 million. So that should be added back over time to normalized earnings minus what, of course, you have of taking the contract internally. So which seem that – well, let me guess answer to the question as you have normalized in a typical year, what do you think you guys would earn in a typical year?