Inconsistent info regarding the Ilmenite project Providing inconsistent information to investors is not the way to earn their trust.
The Ilmenite ramp-up period and production capacity as announced by Daniel Tellechea in the Q3-23 Earnings Call is way below what is disclosed on Largo’s official website. So confusing!
| | As per Official Presentation / Website | As per Tellechea |
| Ramp-up period | Expected to conclude in Q4-23 | April 2024 |
| Production Capacity | 12.5k Tonnes/mth or 150k Tonnes/year | 8-9k Tonnes/mth |
Q3-23 CC Transcript
Daniel Tellechea
Now in terms of volumes, as we are moving forward with the commission of the plant between the First Quarter -- in the First Quarter, we're planning to produce around an average of around 300, 500 tonnes per month. And starting April of next year, we expect that the plan will be completely terminated on his commission and time, and we should be producing between 8,000 to 9,000 tonnes per month.
Largo’s Investor Presentation - October 2023 (used for the Q3-23 Earnings Call)
Currently on Largo website:
https://www.largoinc.com/Our-business/marac-s-menchen-mine/default.aspx
Ilmenite Concentration Plant
Aiming to enhance the value at its Maracs Menchen Mine, Largo is completing construction of its ilmenite concentration plant in Brazil using feedstock sourced from its existing operations. The Company received all required flotation structures and is finalizing the building of its desliming, flotation, filtration, warehouse and pipe rack structures and expects commissioning of the plant to be completed in Q2 2023. Commercial production from the new plant is expected early in H2 2023 and the plant's capacity will be approximately 150,000 tonnes of ilmenite concentrate per annum. The Company is also further evaluating the potential to produce titanium dioxide pigment as a possible follow-on product.