Q2-23 in the red again? | Period | Average V2O5 Benchmark | Revenue per pound | Net (Loss) |
| Q1-23 | US$10.39 | US$9.14 | (1.2M) |
On Friday May 5 2023 Euro V2O5 flake 98 min in-warehouse Rotterdam mid price went down to below US$9.00/lb. Without a big turn around in June it does look like that the average V2O5 benchmark will be somewhere south of US$10.00/lb in Q2-23. Management also expects the Q2-23 sales to average around 2,100T (sales guidance mid-point). So, imho, it would be very difficult for Largo to post a net profit in Q2-23.