RE:RE:RE:RE:RE:Largo Webinar Tomorrow Tuesday June 7th 11AMET
During the conferen call Paulo Misk said: "majority of our sales, are down on long-term contracts, right? And long-term contracts are structured in a way where the quotation periods, so to the benchmark price that we use for a delivery is most of the time based on the prior months price"
The rest that is being sold into the spot market must have fetched higher prices since during Jan, Feb and March, spot prices were higher than the previous month average price.
Accordingly, Largo's average selling price for its V2O5 product should at least equal the Dec-Feb average price for standard V2O5 which is $9.70. Largo, however, sold its higher quality V2O5 product for an average price of $8.11, that's 16,4% below the benchmark!