Largo Inc
NASDAQ:LGO

Watchlist Manager
Largo Inc Logo
Largo Inc
NASDAQ:LGO
Watchlist
Price: 1.19 USD 9.17% Market Closed
Market Cap: 76.3m USD

Largo Inc
Investor Relations

Largo Inc. engages in the exploration and production of vanadium at the Maracas Menchen Mine located in Brazil. The company is headquartered in Toronto, Ontario and currently employs 478 full-time employees. The firm is into the development and sale of vanadium-based utility scale electrical energy storage systems to support the planets to renewable energy. The Company’s product includes VPURE Flakes, VPURE+ Flakes, VPURE+ Powder and Largo clean energy. Its products are sourced from vanadium deposits at the Maracas Menchen Mine in Brazil. Its VPURE Flakes are used to produce ferrovanadium and vanadium carbon nitride. The VPURE+ Flakes are used in the production of master alloys, where it provides high strength-to-weight ratios for the titanium alloy and aerospace industries. Largo Clean Energy utilizes flow battery stack technology and vanadium electrolyte processing technology to develop and deploy its VCHARGE battery systems. Its VCHARGE system is an energy storage battery that uses vanadium electrolyte liquid solution to store and release energy.

Show more
Loading
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q3 2024
Call Date
Nov 14, 2024
AI Summary
Q3 2024

Production Record: Largo delivered its highest vanadium production in 7 quarters, reaching 3,072 tonnes, up 42% from Q3 last year.

Cost Reductions: Operating costs fell by 31% to $29.5 million, and cash operating costs dropped 43% to $3.12 per pound sold.

Revenue & Market Conditions: Revenue was $29.9 million, impacted by lower vanadium prices and reduced sales volumes as spot prices dropped sharply in Europe.

Liquidity Action: A new vanadium supply agreement is set to unlock approximately $23.5 million in additional liquidity between Q4 and Q1.

Ilmenite Growth: Ilmenite production surged 90% quarter-over-quarter to 16,383 tonnes and sales rose 60% over Q2, supporting revenue diversification.

Outlook & Guidance: Management confirmed confidence in meeting full-year 2024 guidance but expects Q4 production to be lower due to scheduled kiln maintenance.

Market Dynamics: Ongoing vanadium market softness continues, especially in Europe, but early signs of recovery are seen in the U.S. market for 2025.

Key Financials
Vanadium Production
3,072 tonnes
Ilmenite Production
16,383 tonnes
Revenue
$29.9 million
Vanadium Sales Revenue
$27.2 million
Ilmenite Sales Revenue
$2.7 million
Operating Costs
$29.5 million
Cash Operating Costs (per lb, excl. royalties)
$3.12 per pound sold
Net Loss
$10.1 million
Adjusted EBITDA (Mining Operations)
$2.4 million
Cash Balance
$30.4 million
Net Working Capital Surplus
$46.7 million
Vanadium Sales Volume (V2O5 equivalent)
1,961 tonnes
Ilmenite Sales Volume
19,572 tonnes
V2O5 Recovery Rate
81.1%
Ore Mined
600,000 tonnes
Average V2O5 Benchmark Price (Europe)
$5.71 per pound
Earnings Call Recording
Other Earnings Calls

Management

Mr. Daniel R. Tellechea B.Sc., MBA
Interim CEO & Director
No Bio Available
Mr. Francesco D'Alessio
Chief Commercial Officer
No Bio Available
Mr. Celio Pereira
Chief Operating Officer of Brazil
No Bio Available
Mr. David Harris
Chief Financial Officer & Corporate Controller
No Bio Available
Mr. Alex Guthrie
Director of Investor Relations
No Bio Available
Liz Valente
General Counsel & Corporate Secretary
No Bio Available

Contacts

Address
ONTARIO
TORONTO
65 Queen Street West, Suite 820
Contacts
+14168619797.0
largoinc.com