Largo Inc Stock Price, News & Analysis

Largo (TSX: LGO, Nasdaq: LGO) reported Q3 2025 results with revenues of $33.3M, V2O5 equivalent sales of 2,417 tonnes and production of 2,636 tonnes. Adjusted cash operating costs excluding royalties improved to $3.03 per lb. The company reported a net loss of $36.6M in Q3 2025, primarily due to a $28.4M non-cash derecognition of a deferred tax asset. Operating cash flow before working capital was $11.9M. Subsequent actions include a $23.4M equity raise and a binding term sheet to defer $84.2M of Brazilian debt to Sept 18, 2026. Largo also began ilmenite capacity expansion to 115,000 tpa and Storion signed a strategic electrolyte supply agreement and a 48 MWh lease in Texas.

Largo (TSX: LGO; NASDAQ: LGO) closed a registered direct offering of 14,262,309 common shares at US$1.22 per share for aggregate gross proceeds of US$17.4 million. Concurrent private placements issued 14,262,309 warrants exercisable at US$1.22 and expiring five years after issuance.

An affiliate of the largest shareholder provided US$6.0 million for 4,918,033 shares and 4,918,033 warrants, partly advanced as a US$5.0 million secured convertible bridge loan that converted on closing. Proceeds will fund working capital at Largo Vanádio de Maracás S.A. to sustain operations until 2026 and to make payments to lenders, the mining contractor and key suppliers. The TSX granted a conditional Financial Hardship Exemption subject to final approval.

Largo (TSX: LGO, NASDAQ: LGO) announced a combined registered direct offering and concurrent private placements to raise gross proceeds of approximately US$17.4 million by issuing 14,262,309 common shares at US$1.22 per share and unregistered warrants exercisable at US$1.22 for five years.

An affiliate (ARC Fund III) committed US$6.0 million, including an optional US$5.0 million secured convertible bridge loan at 12% interest that would convert on closing. Closing is expected on or about October 22, 2025 and is subject to TSX approval of exemption requests.

Largo (TSX:LGO, NASDAQ:LGO) announced binding commitments for a US$23.4 million financing consisting of a US registered direct offering and a concurrent private placement, intended to satisfy an Equity Contribution Requirement of US$22 million by Nov 17, 2025 under a proposed rollover of LVMSA debt to Mar 18, 2026 (with automatic rollover to Sept 18, 2026).

The transaction includes 14,262,309 shares plus warrants in the Registered Direct Offering, an ARC Fund III commitment (including a US$5.0 million secured convertible bridge loan at 12% interest), and would result in 39,359,045 shares on full exercise (~36% fully diluted). The Company has applied for a TSX Financial Hardship Exemption, which if granted affects conversion and approval requirements and may trigger a remedial delisting review.

Largo Inc. (NASDAQ: LGO) has secured a binding term sheet from five Brazilian banks to defer principal payments on $84.2 million of debt until March 18, 2026, with potential extension to September 18, 2026. The deferral is contingent on Largo raising at least C$30 million by November 17, 2025.

Key conditions include providing a negative pledge over mining rights and equipment, paying accrued interest quarterly, repaying $2 million of principal, submitting quarterly unaudited balance sheets, renegotiating supplier debts, and using 80% of secured capital above C$30 million for principal repayment to the banks.

Largo (TSX/NASDAQ: LGO) provided a corporate update highlighting operational progress amid significant challenges. The company achieved strong vanadium pentoxide production of 931 tonnes in August and 856 tonnes in July 2025. However, Largo faces serious headwinds including working capital constraints affecting inventory deliveries and supplier payments.

A major challenge emerged when U.S. tariffs on Brazilian imports increased from 10% to 50% effective August 6, 2025, impacting high-purity vanadium sales contracts. This has led to delayed shipments and some contract defaults. The company is actively lobbying for exemptions, citing strategic importance to U.S. aerospace and defense industries.

Additionally, Largo is expanding its ilmenite plant capacity to 115,000mt from 42,000mt annually, with commissioning targeted for October 2025. The company is also exploring opportunities to monetize its tungsten projects and seeking financing solutions to address immediate liquidity concerns.

Largo (TSX/NASDAQ: LGO) reported Q2 2025 financial results, showing mixed performance amid challenging vanadium market conditions. The company achieved revenues of $26.1 million (vs. $28.6M in Q2 2024) and reduced its net loss to $5.8 million (vs. $14.5M in Q2 2024).

Key operational highlights include V2O5 production of 2,256 tonnes and sales of 1,807 tonnes. The company demonstrated significant cost improvements with a 17% reduction in operating costs to $30.1 million and a 24% improvement in adjusted cash operating costs to $3.18/lb.

Notable challenges include new U.S. tariffs on Brazilian imports increasing from 10% to 50% effective August 6, 2025, and continued pressure on vanadium prices in Europe and China. The company secured a $6 million secured loan to enhance working capital position.

Largo (NASDAQ: LGO) has secured a $6 million loan through a promissory note with ARG International AG. The loan, which carries a 15% annual interest rate and a 1% arrangement fee, has a six-month term and is secured against Largo's 65.7% equity stake in Largo Physical Vanadium Corp.

The financing aims to provide working capital support as the company navigates through challenging market conditions marked by low vanadium prices. According to Interim CEO Daniel Tellechea, while operations have stabilized, the loan will offer flexibility to manage current price pressures while maintaining operational targets.

Largo (TSX/NASDAQ: LGO) reports Q2 2025 vanadium pentoxide (V₂O₅) production of 2,256 tonnes, showing a 74% increase from Q1 2025 but lower than Q2 2024's 2,689 tonnes. The company achieved an improved global recovery rate of 84.9%, up 14% year-over-year.

Key operational highlights include V₂O₅ equivalent sales of 1,807 tonnes and ilmenite concentrate production of 8,149 tonnes. The company's subsidiary, Storion Energy, secured a strategic agreement with TerraFlow Energy to supply vanadium electrolyte and battery stacks for a 48 MWh flow battery project in Texas, supported by Largo Physical Vanadium's electrolyte leasing model.

The operational turnaround is progressing with improved mine access, higher production rates, and stronger recovery rates, keeping the company on track to meet its 2025 production guidance.