Largo Inc. Common Shares - LGO STOCK NEWS

Largo Inc. reported strong Q2 2022 results with V₂O₅ production of 3,084 tonnes, exceeding both Q1 2022 and Q2 2021 figures. A record production of 1,168 tonnes was achieved in May 2022. Sales of 3,291 tonnes represent a 47% increase from the previous quarter and a 9% rise year-over-year. The average benchmark price rose to $11.08 per lb, a significant increase from last year. An automatic repurchase plan was also initiated under the normal course issuer bid to enhance shareholder value.

Largo Inc. held its Annual and Special Meeting of Shareholders on June 30, 2022, with 50,187,930 common shares voted, representing 77.4% of the outstanding shares. Shareholders approved all matters, including the election of directors and the appointment of KPMG LLP as auditors. Key director nominees included David Brace, who received 96.9% of votes in favor, and Paulo Misk, with 97.2%. The company aims to enhance value through vanadium production and a clean energy division focused on sustainability.

Largo Inc. announces that the Toronto Stock Exchange has accepted its notice for a normal course issuer bid (NCIB) to buy back up to 3,641,098 common shares. This represents approximately 10% of its public float, with shares trading at market prices. The NCIB will run from June 1, 2022, to May 31, 2023, allowing daily repurchases of up to 24,510 shares. Largo believes its share price undervalues its intrinsic worth and future prospects. The company focuses on vanadium production and energy storage solutions, aiming for value enhancement in its business strategy.

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.