Upgraded PGMs size / grade = positive news Beyond V2O5 there were other mineral potentials including Titanium and (Platinum Group Metals (PGMs / Platinum / Palladium) identified in the previous Mineral Resource Estimation of Maracas. The latest drilling program has returned a significantly higher grade of PGMs. That speaks volumes about the potential / quality of the Maracas mine. As such this NR is a very positive news for the shareholders (who cares about bashers).
Mines are first and foremost evaluated by the worth of what is in the ground which then must be extracted, refined and sold for a profit. Thus the upgrade size and grade of the PGMs are welcome news. The next essential step is the Technical Report NI 43-101 / Feasibility Study.
A Technical Report NI 43-101 / Feasibility Study must be done to validate the grade / size and evaluate the worth of the PGMs deposit vis-a-vis the capital requirements / costs and difficulty of extracting and selling it. Imho, it’s unlikely for a Tech Report / Feasibility Study to be completed before Q4-24. There is no doubt in my mind that if the PGMs project is found by the report to be profitable then the impact on the sp will be very positive.
In the meantime let’s celebrate the news about the upgrade PGMs potential. Just ignore any basher.
With regard to the current share price, we, the genuine shareholders of Largo, should not forget the following:
1) Short position = +1M shares (thus the manipulation of short sellers to put a lid on the sp)
2) The imminent release of Q4/FY 2023 (we all know the 2023 was a very challenging year for Largo)