Largo's FeV sales kha341 wrote: When one of our customers wants to buy FeV from us we pay one of the local FeV producers to convert our V2O5 to FeV so we can sell/ship it to the customer. That’s why we have a low profit margin from selling FeV, thus the plan to build our own FeV plant in the future.
The sales of FeV have increased big time from a very small amount in 2020 to almost 50% of Largo’s total sales revenue in 2021 although we have heard nothing about the timing for the completion of the FeV conversion plant of which the construction has been delayed due to covid.
Q3-21 = 804,000 kg = US$25.2M = ~47% of the total revenue of US$53.9M
9 months-21 = 2,586,000kg = US$71.1M = ~48% of the total revenue of US$148M
As compared to Q3-20 when Largo started to sell FeV
Q3-20 = ? Volume = US$5.6
9 months-20 = ? Volume = US$6.0M = ~8% of the total revenue of US$77.7M