Welcome to our dedicated page for Largo news (Ticker: LGO), a resource for investors and traders seeking the latest updates and insights on Largo stock.
Largo Inc (LGO) operates at the intersection of traditional mining and renewable energy innovation, specializing in vanadium production and energy storage solutions. This news hub provides investors and industry observers with comprehensive updates on the company's operational developments, strategic partnerships, and market positioning.
Access authoritative reports on quarterly earnings, production milestones from the Maracás Menchen mine, and advancements in vanadium redox flow battery technology through Largo Clean Energy. The curated collection includes official press releases covering resource exploration updates, corporate governance changes, and commercial agreements within the steel and renewable energy sectors.
Key content categories include operational performance metrics, expansion initiatives in Brazil's mining sector, and technological developments in energy storage systems. Users will find detailed analyses of market trends impacting vanadium demand, particularly in infrastructure development and grid-scale battery applications.
Bookmark this page for streamlined access to Largo Inc's latest financial disclosures, sustainability reports, and strategic announcements. Regular updates ensure stakeholders maintain current understanding of the company's dual focus on mineral resource development and clean energy innovation.
Largo Inc. (LGO) reported its Q1 2023 operational results, producing 2,111 tonnes of vanadium pentoxide (V2O5), a decrease from 2,442 tonnes in Q1 2022. Despite heavy rains impacting high-grade ore availability, sales rose 28% to 2,849 tonnes compared to 2,232 tonnes in Q1 2022. The company is on track with production guidance and is set to complete its ilmenite concentration plant by Q2 2023. Largo Clean Energy is advancing its 6.1 MWh vanadium redox flow battery installation for Enel Green Power in Spain. Furthermore, Largo has joined the Long Duration Energy Storage Council to support global decarbonization efforts. Production challenges stem from adverse weather, but demand for vanadium, especially in the aerospace sector, remains strong.
Argus Research has initiated equity research coverage on Largo Inc. (LGO), a leading vanadium producer. The firm anticipates increasing vanadium demand, benefiting Largo's profitability. The Maracás Menchen Mine is expected to improve yield post-2022 operational challenges. Largo's production of ilmenite, expected to commence in mid-2023, adds revenue potential. With $54.5 million in cash and $115.2 million in working capital, Largo is positioned to fund projects. Despite a 42% stock decline in 2022, Argus estimates a fair value of $9, significantly higher than the current price of $5.
Largo reported Q4 2022 revenues of $47.5 million, a 6% decrease from Q4 2021, with an annual total of $229.3 million, marking a 16% increase year-over-year. The company faced a net loss of $15.6 million in Q4 2022, compared to a net income of $1.0 million in Q4 2021. Operating costs surged to $44.5 million in Q4 2022, up from $37.7 million in Q4 2021, primarily due to inflation and mining disruption from heavy rains. Production of V2O5 was stable at 2,004 tonnes for Q4 2022. Despite challenges, Largo anticipates a 10% production increase in 2023, driven by growing demand in the energy storage sector.
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