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 reported Q1 2022 revenues of $42.7 million, a 7% increase over Q1 2021, driven by higher vanadium prices. However, the company experienced a net loss of $2.0 million, contrasting with a net income of $4.1 million in the prior year. Total V2O5 equivalent sales fell to 2,232 tonnes due to logistical challenges and lower production. The cash operating cost excluding royalties rose to $3.97 per pound sold, up from $2.87 a year earlier. The company adjusted its annual guidance downwards for production and sales due to rising costs and production challenges.
Largo Inc. (NASDAQ: LGO) will release its first quarter 2022 financial results on May 11, after market close. A webcast and conference call will follow on May 12 at 10:00 a.m. ET, featuring the President and CEO, CFO, and other key executives discussing financial and operational outcomes. Investors can access the call through dial-in numbers or webcast registration. Largo focuses on vanadium production and innovative battery technology to support renewable energy transitions.
Largo Inc. (NASDAQ: LGO) announces progress on the Qualifying Transaction with Column Capital Corp. for Largo Physical Vanadium Corp. (LPV). A definitive agreement dated April 14, 2022, will facilitate a reverse takeover, creating a publicly listed entity focused on physical vanadium investment. This move aims to capitalize on the growing demand for vanadium in energy storage and greener steel production. The Resulting Issuer is expected to enhance investor access to physical vanadium, with comprehensive management and security over the inventory. Largo also invested C$20 million in the private placement for LPV.
Largo Inc. reported a strong Q1 2022 with 2,442 tonnes of V2O5 produced, a 23% increase from Q1 2021. Quarterly sales reached 2,232 tonnes, down from 2,783 tonnes due to global logistical challenges. The Company has commenced construction of its ilmenite concentration plant, aiming for production in H1 2023. Operational impacts were noted from maintenance and global inflation, affecting costs, which are expected at around US$4.50 per pound sold. Despite challenges, demand in vanadium markets remains strong.
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.
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