EBITDA
Ernest Cleave, Q2-22: “As to a long term EBITDA expectation, we've always felt that $100 million of EBITDA or maybe more depending on premiums in the market. But just on the long term price of vanadium is a reasonable expectation, 100 to 120 and could be much more when times are really in our favor, as you've seen in the past”
How could Cleave,in Q2-22, come up with a long term EBITDA expectation of US$100M - 120M?
The following table shows Largo’s annual EBITDA since 2017
US$
| Year | Annual EBITDA |
| 2017 | $52M |
| 2018 | $303M |
| 2019 | $15M |
| 2020 | $34M |
| 2021 | $54M |
| 2022 | $26M |
| 2023 (9 months)) | $9M |