https://stockhouse.com/companies/bullboard?symbol=t.lgo&postid=36275651
Tellechea: "The vanadium supply agreement allows Largo to unlock approximately $23.5 million from the supply of 2,100 tonnes of its standard grade V2O5, providing the Company with additional liquidity and flexibility in the current vanadium price environment"
2,100T = 4,629,708 lbs. So US$23.55M for 2,100T is equivalent to ~US$5.08/lb (I guess with no marketing/sales costs and no distribution costs). I also guess that US$5.08/lb is the floor price agreed upon between the parties with proper adjustments related to any market spot prices fluctuation.
There were 9,467 tonnes of produced V2O5 equivalent sold in 2023, therefore 2,100 tonnes = ~22% of the annual produced V2O5 equivalent sold. The sales team (hopefully reduced sales team) should only focus on selling high margin / HP products from now on.