https://www.streetwisereports.com/article/2023/02/06/vanadium-company-reports-plans-for-2023.html
Excerpt
The Catalyst: New Revenue Stream
President and CEO of Largo Paulo Misk mentioned "operational challenges" faced in 2022 that might have had a part to play in the lower-than-expected results for the year. He went on to state that the company is looking forward to "prioritize and focus" on the Maracs Menchen mine and mentioned "mitigation efforts to rectify rain-related impacts and preventive maintenance measures during the operational downtime in December 2022 and January 2023."
CIBC reported that "heavy rainfall" had impacted open pit production and had led to lower-than-estimated results after 16 days of operational downtime between December and January. The results were below CIBC’s expectations in terms of production and CapEx but above expectations on costs.
February 3, 2022, Bryce Adams of CIBC Capital Markets rated Largo Outperform with a target price of CA$18. Largo is currently trading at CA$7.99.
Largo has also made progress in the construction of its ilmenite concentration plant at the Maracs Menchen mine in the last quarter of 2022 and expects commissioning to be completed by Q2 of this year. It expects a new revenue stream in 2024 from ilmenite sales.
Vanadium is ideal for energy storage, as well as high-quality alloy applications, and as demand for low-carbon technology increases, a 173% increase in vanadium production is expected. It includes non-degrading, recyclable electrolyte and carbon-reducing steel alloying applications, meaning it’s a win-win for companies and institutions looking for sustainable, low-carbon solutions.
Largo intends to continue production through its operations in Brazil and through an energy storage business based in the U.S., working towards the goal of supporting a carbon-neutral future. It expects to deliver its inaugural vanadium redox batteries (VRFB) for Enel Spain in Q2 of this year.
February 3, 2022, Bryce Adams of CIBC Capital Markets rated Largo Outperform with a target price of CA$18. Largo is currently trading at CA$7.99.
Analysts that have given Largo Buy or Outperform ratings include H.C. Wainwright’s Heiko F Ihle and Gordon Lawson et al. at Paradigm Capital. You can read more of what they are saying by clicking “See More Live Data” in the data box above.
Largo Clean Energy (LCE) will also continue negotiations with Ansaldo Green Tech with the purpose of creating a joint venture, which would focus on the manufacture and commercial distribution of VRFBs throughout the European, African, and Middle Eastern markets.