Largo Inc Stock Price, News & Analysis

Largo reported a 65% revenue increase for 2021, totaling $198.3 million, driven by higher vanadium prices. Net income rose to $22.6 million, marking a 232% increase year-over-year. However, operating costs also surged to $133 million, largely due to abnormally high rainfall affecting production at the Maracás Menchen Mine. The company's cash operating costs increased to $3.37 per pound, which was 5% above guidance. Largo aims to capitalize on a projected vanadium supply deficit as demand rises for energy storage solutions.

Largo Inc. (NASDAQ: LGO) will announce its fourth quarter and annual 2021 financial results on March 16, 2022, after market close. A shareholder webcast and conference call, featuring key executives, is scheduled for March 17, 2022, at 10:00 a.m. ET. Largo specializes in vanadium products sourced from its Maracás Menchen Mine in Brazil and is transforming its operations by integrating vanadium products with VCHARGE battery technology, aiming to support renewable energy initiatives.

Largo Inc. (LGO) announced plans for a qualifying transaction to form Largo Physical Vanadium Corp. (LPV), aimed at investing in physical vanadium products. LPV will provide direct investment exposure to vanadium, notably for use in vanadium redox flow batteries (VRFBs), crucial for the green energy transition. The strategy is to enhance customer affordability by removing vanadium costs from the battery purchases and generating rental revenue through long-duration energy storage systems. Completion of the deal is subject to regulatory approvals and market conditions.

Largo Inc. has appointed Stephen Prince as President of Largo Clean Energy, succeeding Ian Robertson. Robertson will remain as Co-Chair of the Board and Chair of the Clean Energy Committee. Prince is a seasoned executive with experience in energy storage and technology businesses, having previously led Centrica Business Solutions in North America and served on the board of Enerox CellCube. CEO Paulo Misk emphasized Prince's technical expertise as vital for Largo's strategy in long duration energy storage, aiming for continued growth and innovation in sustainable energy solutions.

Largo announced Q4 and FY 2021 production and sales results, reporting 10,319 tonnes of V₂O₅ produced and 11,393 tonnes sold, exceeding the lower end of its guidance. Q4 production dropped 40% year-over-year due to heavy rainfall, impacting operations at the Maracás Menchen Mine. Recovery rates also fell, averaging 76.0%. For 2022, the company projects 12,000 – 12,750 tonnes of V₂O₅ equivalent production. Capital expenditures are estimated at $64 million, aimed at enhancing future profitability.

Largo Inc. has filed a National Instrument 43-101 Technical Report titled 'An Updated Life of Mine Plan' for its Maracás Menchen Mine in Brazil. The report outlines a 20-year mine life, projecting $2.8 billion pre-tax NPV and $5.8 billion pre-tax cash flow due to increased production of vanadium pentoxide and titanium dioxide as co-products. The operational strategy aims to enhance profitability and market competitiveness, with the company's production capacity expected to rise from 13,200 to 15,900 tonnes per annum by 2032.

Largo Inc. (NASDAQ: LGO) reported a robust Q3 2021, with revenues soaring to $53.9 million, a 96% increase from Q3 2020. The net income reached $9.2 million, representing a significant 261% rise year-over-year. Despite challenges, production of V2O5 rose by 5% to 3,260 tonnes. The cash balance improved to $87.6 million. Notably, Largo Clean Energy secured $4.2 million in funding from the U.S. Department of Energy to scale manufacturing of energy storage systems, enhancing its market potential.

Largo Inc. (formerly Largo Resources Ltd.) has announced a rebranding to reflect its growth in the renewable energy sector. Effective November 10, 2021, the company will trade under the new name on both the Toronto and Nasdaq exchanges. This change aligns with Largo's commitment to becoming a leading player in energy storage, focusing on vanadium-based solutions. The company's leadership emphasizes the importance of this rebranding as a part of its mission to meet global energy storage needs and promote sustainability. A conference call to discuss Q3 results is scheduled for November 11, 2021.

Largo Resources Ltd. (TSX: LGO) announces a significant update regarding its Maracás Menchen Mine, highlighting a 305% increase in Proven and Probable reserves and a 128% rise in Measured and Indicated resources. This update supports enhanced vanadium production, projected to rise to approximately 15,900 tonnes per annum by 2032. With a 20-year mine life, the project estimates a $2.0 billion after-tax NPV7%. The integration of TiO2 pigment production is expected to generate over $4.0 billion in cash flow, enhancing market competitiveness and shareholder value.