The ramp-up period is expected to be about 4 - 5 months before reaching the production capacity of 145,000T of ilmenite.
August Production = 350T
September Production = 700T
So total Q3-23 Production = 1050T, in terms of revenue we are talking about US$294,000 assuming the revenue per tonne = US$280 (as per Vollant expectation).
A total capacity of 145,000T / year = ~12,000T / mth = 36,000T / Q.
Let’s assume that Largo will reach the full monthly production capacity of 12,000T right from January 2024. We are talking about 36,000T for each Q or a quarterly revenue of ~US$10M or a yearly revenue of ~US$40M in 2024.
Judging from the ramp-up production of 350T in Aug and 700T in Sept we are still far away from the monthly capacity of 12,000T.
The question is can Management deliver as promised.
The jury is still out, imho.
DYODD