The iron ore fiasco is a lot more than just a failure by Management to monetize a tailing.
1) Selling a new product without proper testwork to determine its saleability is an indication that the inexperienced sales team is not yet ready for venturing outside of the familiar Vanadium field. Can Largo be anything more than just a one-trick-pony?
2) Selling a “lemon” product risks damaging the company’s credibility vis--vis the current / potential clientele. In a competitive field such as the metal markets it is difficult to gain customer trust without an untarnished reputation and without customer trust it is very hard to compete.
3) Trying to hide the problem from existing / potential investors risks causing mistrust thus creating an atmosphere of skepticism / uncertainty. The market doesn’t like uncertainty.
Consequently I would not be surprised if the iron ore fiasco was one of reasons causing the sp to drop deep into the bargain basement. Sure, the sp will eventually recover if V2O5 continues to be strong, but how fast and how long?
Unless some positive events / NR will come along my expectation of LGO reaching the C$30 range by the end of 2021 is fading away….even if we meet Q3 expectations.
Just my 2-ct
DYODD