Good News I expect a positive impact on the sp.
1) On-schedule completion of the construction of the Company's ilmenite concentration plant in Q2-23. Commissioning and gradual ramp-up to be expected in Q3 and Q4-23 and sales to start in 2024. I hope that Management will be releasing revenue and profitability guidance related to the Ilmenite plant when ramp-up production commences.
2) Cold commissioning of Enel VRFB is completed. Hot commissioning and provisional acceptance is anticipated to be done in Q3-23. Imho, it would be difficult for LCE to sign any additional deals until our first VRFB is proven to be a viable product.
3) Appointment of Francesco D'Alessio as President of the LCE Division. It should be noted that Francesco D'Alessio, is relatively an unknown figure with limited experience in the battery storage industry. In terms of reputation / experience in VRFB he is not in the same league as his predecessor Stephen Prince.
https://www.linkedin.com/in/francesco-d-alessio-mba-a1205833?original_referer=https%3A%2F%2Fwww.google.com%2F
4) Q2-23 Production = 2,639T = a 25% improvement over Q1’s 2,111T however the production of High Purity in Q2 (945T) is 6% lower than Q1’s (1,009T).
Production is still way below the maximum capacity of 3000-3,300T / Q.
5) Q2-23 Sales = 2,557 T = 5,637,214 lbs which is in line with the annual Sales Guidance.
Assuming generously that the revenue per pound sold = US$8/lb
Q2-23 Revenue = ~US$45M
Can Largo make a profit in Q2-23? Who knows?