SP up slightly
The SP closed slightly in Green for the second time in 9 trading sessions. The sell-off seems to slow down. I believe the bottom has been reached at about 9% lower than the book value on both TMX and Nasdaq ( Book Value = US$4.33 or C$5.84). The SP will continue to stay in the toilet until the announcement of the completion of the Ilmenite plant or the hot commissioning of LCE first VRFB in Q3-23. I expect the SP to close the year in the C$8 range or less. If they continued to book negative Permanent tax adjustments in an excessive amount of US$10 - 15M for the full year (like in the previous 2 years) then Largo would likely have a Net Loss in 2023 also.
DYODD