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) generates frequent news as a vanadium-focused mining and materials company with operations centered on the Maracás Menchen Mine in Brazil and listings on both Nasdaq and the Toronto Stock Exchange. Company updates often highlight production performance for vanadium pentoxide and ilmenite concentrate, progress on plant expansions, and developments in its byproduct strategy.
Recent releases describe sustained vanadium production, installation of additional flotation cell circuits to increase ilmenite capacity, and a binding term sheet for the potential sale of iron ore calcine stockpiled over years of vanadium production. Largo has also reported internal metallurgical studies on copper mineralization and PGMs at the Maracás Menchen complex, examining whether copper and other metals can be recovered as byproducts alongside vanadium and titanium.
Investors following LGO news will see coverage of financing initiatives, including registered direct offerings, private placements, and an at-the-market equity offering program, as well as negotiations with Brazilian lenders to defer principal repayments. Company communications also address liquidity, working capital constraints, and the impact of tariffs on U.S. sales of high purity vanadium products.
In addition, Largo’s news flow includes information on its 50% ownership interest in Storion Energy for vanadium flow battery electrolyte production, and on its tungsten-related projects in Canada and Brazil. This page aggregates these operational, financial, and strategic announcements so readers can track how Largo manages its vanadium production, byproduct opportunities, energy storage exposure, and capital structure over time.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.
Largo Inc. (LGO) is set to announce its fourth quarter and annual 2022 financial results on March 9, 2023, after market closure. A conference call to discuss these results will take place on March 10, 2023, at 1:00 p.m. ET. The call can be accessed via local dial-in numbers or through a registration link for an automated callback. Largo, which specializes in vanadium supply, is advancing its operations with the implementation of a titanium dioxide pigment plant and enhancing its clean energy division with innovative VCHARGE vanadium batteries. The company's focus remains on supporting a low carbon future while producing high-quality vanadium.
Largo Inc. (NASDAQ: LGO, TSX: LGO) has announced a leadership change as Paulo Misk has left his position as President and CEO. Daniel Tellechea, previously a member of the Board since 2015 and Chair of the Operations Committee, has been appointed interim CEO. The Board has initiated a search for a permanent CEO while maintaining the company’s objectives for the year, including its 2023 guidance. Tellechea brings extensive experience in the metals and mining sector, particularly in vanadium operations in Brazil. Largo continues to focus on adding shareholder value through its dual strategy of vanadium supply and clean energy solutions.
FAQ
What is the current stock price of Largo (LGO)?
What is the market cap of Largo (LGO)?
