Largo Inc T.LGO

EC acknowledged missteps

[kha341]

NewAgeMetal wrote: Did you all hear EC acknowledge they had missteps last year, I just about fell off the back of my chair.

EC can be easily replaced. Accountants are a dime a dozen.

Had it not for the US$1.5M of Deferred Income Tax Recovery, our Q4 bottom line would be in the red. Imagine being in the red while the average V2O5 price for the quarter = US$8.30/lb. It was the first in the history of Largo. How could the lowest cost primary producer of V in the world be in the red when the average V2O5 price = US$8.30/lb? More like a major f*ck up than just some missteps.

We were way more profitable even at lower revenue levels:

[ceetong]

Do you think he should be replaced? I don't! Actually I am of the opinion Mr. Cleave was one of only two company representatives (the other one being Mr. Prince) who provided worthwhile information whereas our CEO mainly engaged in self-adulation. The dialogue between Mr. Cooperman and Mr. Cleave was of particular interest!

[NewAgeMetal]

We didn't hear about any of that information because EC is good, we got it because Cooperman asked the right question.  EC's portion of the was over, we'd be in the dark still.

[ceetong]

Sure, but he could have sidestepped the question easily. "It's too early to issue official guidance at this time...." as we've heard a thousand times before. But he did not. Maybe he would have done so if it had not been an investment legend asking.

[ceetong]

https://www.cnbc.com/video/2022/03/16/legendary-investor-lee-cooperman-im-more-pessimistic-and-less-than-fully-invested.html Just excellent.