What needs to happen asap Island999: “....can't see any progress until V prices get back to where they become profitable for miners”
“Profitable”is the key word.
For Largo to be economically viable both of the following MUST happen the sooner the better:
1) Sustainable Vanadium recovery (the higher the V prices the better for Largo’s revenue). This is outside of management control,
and equally important
2) Realisation of drastic cost reduction to increase gross margins back to double-digit (the higher the margin the better for Largo bottom line). No producing mine can stay afloat in a sea of red ink for too long without going through Care & Maintenance / temporary closure. This task is within management’s responsibility / duty / accountability.
US$
| Period | Average Quarterly Benchmark Euro V2O5 Price | Revenue | Operating Costs | Gross Margin | Earnings (Loss) Per Share |
| Q4-23 | $6.46/lb | $44.17M | $43.22M | 2.2% | ($0.21) |
| Q3-23 | $8.03/lb | $43.98M | $42.58M | 3.2% | ($0.19) |
| Q2-23 | $8.46/lb | $53.11 | $43.03 | 19.0% | ($0.09) |
| Q1-23 | $10.39/lb | $57.42 | $45.93 | 20.0% | ($0.02) |
| Q4-22 | $8.25/lb | $47.50M | $44.46 | 6.4% | ($0.24) |
| Q3-22 | $8.23/lb | $54.26 | $45.60 | 16.0% | ($0.04) |
| Q2-22 | $11.08/lb | $84.80 | $50.70 | 40.2% | $0.28 |
| Q1-22 | $10.72/lb | $42.69 | $28.96 | 32.2% | ($0.03) |
DYODD