Largo Inc T.LGO

Iron Ore

[kha341]

"Operating costs in Q2 2021 were partially offset by a margin on iron ore sales of $0.1 million"

WTF!

[MetalsMan]

I remember Mark Smith saying years ago that the chemistry wasn't right.  Obvioulty that mean there wasn't iron ore.  There's nothing there. $100,000 margin from 14,400? Tonnes?   

[kha341]

The Q2-21 results proved that Management did not deliver on the iron ore excitement. Big announcement on the first iron ore sale? For what? Just a big nothing. This Management simply can’t  walk the talk. They do make it  difficult for the market / investors to trust their ability to deliver on their promises.  NR - 03-15-2021  The Company finalized a sales contract for

[NewfNewf]

Working hard?. What a joke. Its unacceptable that this mangament team continues to play games here with the iron ore sales. I don't like sneaky management. Simply detail the amount of iron ore sold and the average price received. Lets see what kind of fluff they spew tomorrow on this issue. 

[kha341]

Q1-21 CC Paulo Misk We would like to highlight that our first sale of iron ore was a key step in validating the commercial viability of this material and also highlight the added benefit of our new established internal sales divisions, while capitalizing the higher iron ore price environment. We continue our active discussions with end users for this material and expect to complete additional

[kha341]

There is no written transcript available for Q4-20 CC. Thanks to st_esteban we have the above post regarding iron ore (dated:3/19/2021). So in the Q4-20 CC, Management told us that the costs related to the sales of iron ore were supposed to be minimal (no production costs, just Selling expenses). Now in Q2-21 they reported that “operating costs in Q2 2021 were partially offset by a margin on

[jcw604]

They are getting less than $10 per ton.

[ninja123]

not understanding why the focus on iron ore is distracting from the overall performance.  the iron ore was understood to be of dubious quality and transport constrants/costs are high and mostly focused on V.  on the other hand, this management team does not know how to communicate like adults.  volume is lite .. who cares about Zacks nonsense.  .. lets see how the call goes.

[kha341]

Management mislead us. That does matter a lot. With regard to the overall performance, Management have nothing to do with the increase in Vanadium prices.

[jcw604]

Transparency is the keyword, especially in conference call, because that is how you control expectation and create credibility. If you are transparent with the challenges with your business and the opportunities ahead, the market can price in the SP ahead of the actual results making financing a lot cheaper if you have new projects with creditable IRR numbers.

[ninja123]

i am at the head of the pack with regard to disliking this management team.  i have made my view clear to them and i hope you all speak up as well.  at the heart of the issue re: the iron ore stock pile is miscommunication .. clearly we are not all seeing it the same way and hopefully (doubtful) they clarify today.. it's very possible that the #s reflect the sale at the end of q1 and

[kha341]

Miscommunication? We got a US$100K margin out of the following “communication”? Let's see US$100K margin on a sale of 14,000 tonne = a margin of US$7 / tonne. All of the following "communication" for a margin of US$7 / tonne? Q1-21 CC Andrew Wong:  iron ore is sitting around $230 per tonne in China. With iron ore at record levels, what are your options from

[screamer99]

They clarified on the call that when the shipments reached China and when they were tested, they discovered another mineral that isn't naturally contained in iron ore (sodium? - it was hard to hear), so they were sold at a heavy discount. No other significant iron ore sales planned for the rest of the year (if any) but they are exploring processing it to have a saleable product. The battery

[ninja123]

i am going to sleep on it .. i am inclined to do the same. i have accumlated just over 50,000 shares ..  i am reviewing past buys now .. but, sadly, it seems that i buy after endless disappointing price action following earnings. the fact that Ian was featured on the call suggests that they are not deaf and understand that Paulo's poor communication is a liability.  hence, they are

[kha341]

Thank you screamer for the summary. So Management did not even know whether their iron ore was a saleable product or not before selling it overseas and raving about the first sale with great enthusiasm? Talking about a bunch of inexperienced rookies who get away with “over promise and under deliver” so many times already.

[jcw604]

If there were something saleable, China should have kept it as a secret and keep buying more from them.

[jcw604]

The way a read it is that China consider those as junk despite their is something sellable in it. It has not created much interest to them.

[MetalsMan]

God willing they have ceased operations or they'll be losing money.