Largo Inc T.LGO

Emergency measure

[ceetong]

This has not been planned as there is neither a transition period nor a permanent successor announced. Misk was ousted "with immediate effect" and does not continue as a consultant as it is often the case. The search for a permanent CEO has just started. This very much looks like a sudden  "emergency measure".

[ceetong]

Shareholders very well remember last year's disaster when heavy rain ruined Q4 and Q1 production figures. Costs were extremely high due to several measures that were taken in orderr to prevent future damage due to weather events. Just 12 months later these expensive measures turn out to be inadequate as the pit was flooded again, making mining impossible for more than two weeks. Building a

[ceetong]

Does this have implications for the Ansaldo deal? Ansaldo itself is in a weak position, had to raise capital just recently. There are better partners out there but surely Ansaldo is better than none.

[ceetong]

The interim CEO sits on LGO's board for years. He's one of those responsible for not acting in due time. Apparently he was happy with what Paolo "achieved". Not encouraging IMO!