Statement of cash flows | Mine properties, plant and equipment | | | (53,546 | ) |
It's important with a firm to look at how it spent its cash. I wonder what earnings would have looked like without this investment. But no regrets. Company is holding 16000 tons of ilmenite already, and it's only been a few months of ramping. Again, this is expected to reach 150,000 tons per year when ramping completes.
No ilmenite cash flow came from 2023. All the company has to do is survive, and the $2 billion mine is big enough to secure Largo all the debt financing it needs. V prices won't stay low forever. VRFB is coming. Ilmenite revenue coming. Potential PGMs coming. Potential major buyer of V from US coming; non-binding JV agreement signed.
https://gmk.center/en/news/china-increased-steel-production-by-1-6-y-y-in-january-february/amp/