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Largo Inc (symbol: LGO) is a mid-tier mining development company, primarily focused on the production of vanadium at its flagship Maracás Menchen Mine in Brazil. Largo has achieved a notable accomplishment in the mining sector by successfully financing, constructing, and bringing a unique commodity project to production, even in challenging market conditions.
The Maracás Menchen Mine boasts the highest-grade vanadium deposit ever discovered, positioning Largo as a low-cost producer. With a strategic off-take agreement with commodities giant Glencore, Largo is well-poised to become a leading global producer of vanadium, expected to generate substantial cash flows.
Vanadium is an essential alloy used to strengthen steel while reducing its weight. Vanadium-enhanced steels are integral to a wide range of products, including rebar, automobiles, and transportation infrastructure, reflecting a compound annual growth rate of over 6% for the past several years.
Apart from its mining operations, Largo Inc is committed to advancing renewable energy storage solutions. Through Largo Clean Energy, the company is developing vanadium redox flow battery technology, which promises innovative energy storage solutions. The company produces and supplies high-quality vanadium products such as VPURE Flake, VPURE+ Flake, and VPURE+ Powder.
Largo Inc operates through six segments: Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, Largo Clean Energy, and Largo Physical Vanadium. The Sales & Trading segment is a significant revenue generator for the company, driving its financial performance.
With its extensive operations and strategic initiatives, Largo Inc continues to make significant strides in both the mining and renewable energy sectors, solidifying its position as a noteworthy player in the global market.
Largo Resources Ltd. (TSX: LGO, NASDAQ: LGO) has appointed Dr. Bart Riley and Dr. Jeffrey Chamberlain as strategic advisors to enhance its Largo Clean Energy business. Dr. Riley brings over 30 years of experience in energy storage and technology commercialization, while Dr. Chamberlain has a strong background in product R&D and has led significant projects in collaboration with the U.S. Department of Energy. This move aims to strengthen Largo's position in the growing long-duration energy storage market, complementing recent board appointments.
Largo Resources Ltd. (TSX: LGO, NASDAQ: LGO) announces advancements in its clean energy division, focusing on scaling the manufacturing capacity of its VCHARGE± vanadium redox flow battery (VRFB) system. The company appointed Salvatore Minopoli as Vice President of Operations, responsible for executing the strategic growth plan. A manufacturing strategy was finalized, establishing a 1.4 GWh/year facility in Massachusetts and a location in New Hampshire for electrolyte production. The company is progressing with the certification processes for its VRFB system.
Largo Resources Ltd. (LGO) is set to release its first quarter 2021 financial results on May 12, 2021, following market close. A conference call will be held on May 13 at 11:00 a.m. ET to discuss the operating and financial results. Investors can dial in using local, toll-free, or international numbers, with a Q&A portal available for question submissions. Largo is a leading vanadium company focused on renewable energy storage solutions alongside its high-grade vanadium production.
Largo Resources Ltd. (TSX: LGO, NASDAQ: LGO) reported Q1 2021 production of 1,986 tonnes of vanadium pentoxide (V2O5), down 30% from Q1 2020, due to a planned shutdown for upgrades. The company expects to reach a new capacity of 1,100 tonnes of V2O5 per month by the end of Q2 2021. Despite challenges from COVID-19, demand from steel and chemical sectors remains robust, with a significant price increase in Europe during Q1. The company remains focused on its clean energy division and vanadium's role in energy storage.
Largo Resources Ltd. has announced the Board's approval for constructing a new ilmenite concentration plant, projected to begin commercial production in early 2023 with a capacity of 150,000 tonnes annually. This project is estimated to cost approximately US$25.2 million, primarily incurred in 2022. The Board's decision follows positive results from a pilot plant initiated in October 2019. CEO Paulo Misk emphasized this project as a strategy to diversify revenue streams while exploring additional value from mineral resources.
Largo Resources Ltd. reported strong 2020 financial results with revenues of $120.0 million from 10,254 tonnes of vanadium pentoxide equivalent. The company achieved a production record of 11,825 tonnes of V2O5 and the lowest cash operating costs of $2.56 per pound. Despite challenges from COVID-19, Largo surpassed sales guidance by 254 tonnes and ended the year with a cash balance of $79.1 million, becoming debt-free. The company aims for growth in 2021, focusing on its new clean energy division and an anticipated NASDAQ listing.
Largo Resources Ltd. (TSX: LGO) (OTCQX: LGORF) has announced the appointment of Ian Robertson to its Board of Directors. Alberto Arias, Non-executive Chairman, highlighted Robertson's significant contributions to the renewable energy sector, particularly at Algonquin Power & Utilities Corp., and his experience in overseeing sustainable energy initiatives. With over 30 years in global energy, Robertson's leadership is expected to enhance Largo's Clean Energy division, contributing to the company's commitment to sustainable development and renewable energy storage solutions.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) announces a consolidation of its common shares, with a ratio of 1:10. This will take effect on March 8, 2021, and is aimed at facilitating a listing on the Nasdaq to enhance shareholder value and access to U.S. capital markets. Shareholders will receive details on converting their existing shares to post-consolidation shares. The consolidation will adjust outstanding options and warrants accordingly. The company remains committed to maintaining its TSX listing and is focused on advancing its clean energy initiatives.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) announced record operational results for 2020, exceeding annual sales guidance by 260 tonnes. The Maracás Menchen Mine achieved a production record of 11,825 tonnes of V2O5, marking a 12% increase over 2019. The company aims to produce 12,000-12,500 tonnes of V2O5 in 2021, with sales projected to rise by 22%. Largo is also focusing on its clean energy initiative, aiming to capitalize on the renewable energy storage market. Costs are expected to remain low, with cash operating costs between $3.10-$3.30 per pound sold.
Largo Resources Ltd. (TSX: LGO, OTCQX: LGORF) will hold a Special Meeting of Shareholders on March 1, 2021, with a Record Date of January 25, 2021. The meeting's purpose is to seek shareholder approval for a share consolidation of up to 1 post-consolidation share for 10 pre-consolidation shares. Concurrently, the Board is considering a potential U.S. listing to enhance access to capital markets and shareholder value, particularly for its Largo Clean Energy division, which focuses on vanadium redox flow battery solutions.
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