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Largo Inc. (LGO)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
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7.43-0.18 (-2.37%)
At close: 04:00PM EDT

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  • S
    Scott
    Q2 numbers should be good, but looking outward at a steadily declining price of V and slowing economies around the world, it could be a very long time before they see good numbers again. Rather than buying stock back, they'd better hold onto their cash. Going to need it to continue operations over the next year or so.
  • l
    lisseth
    there you go rick ask for it and boom they are on it .... just bought back in lets see the numbers for q2 should be very impressive
  • C
    Chris
    Somewhat disappointed with price action in recent months. They have very little debt and good cash reserves. They are scaling up, so I am not concerned about lack of revenue. They obviously consider their share price to be too low hence worth investing some of their cash resources buying back shares. This is good use of cash at present given long lead times and the constraints and bottle necks in getting new materials, works done, contractors etc. The rear view will probably show that it was the right decision. And current prices are a great opportunity for people to increase their holding.
  • R
    Randy
    Anyone take notice of the votes ‘against’ Alberto Arias during the recent AGM?
  • R
    Rick
    the company should start buying back outstanding shares??
  • J
    James_007
    LGO was up 6% yesterday and down 6% today with VERY little volume. How can this have such high percentage moves with almost no volume?
  • G
    Gijs
    Not clear what LGO will buy. 10% of free float? Does that include the institutions who own about 65% of free float? AREAS alone owns 42% and was not in the market to sell any of it's LGO shares. SO, when 58% could be labeled as potential sellers, THEN it's not 10% of free float BUT 10/0.58= 17% !!
  • S
    Scott
    Don't look now, but the price of V is dropping back. LGO couldn't turn a profit when it was at $12/lb, so how bad will it be now that it's below $10.
  • A
    Al
    Just read an article written by reuters on yahoo that there is a lithium battery shortage preventing businesses from going to solar or wind energy. Largo should be getting a lot of contracts for their
    Vanadium flow battery.
  • B
    Bob
    Do we know when their physical vanadium fund will launch?
  • N
    Nautical
    Shares have been really moving since the 6.77 May low. Point-and-figure chart says, double-top-breakout on May 19. Revenue 201.17 million times 5. Divided by outstanding shares 64.82m. Is 15.51 per share in US Dollars.
  • S
    Slashnuts
    Largo Resources Ltd. (" Largo " or the " Company ") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that it has completed the repurchase and retirement of US$59.2 million in aggregate principal amount plus premium and accrued and unpaid interest. Th
    Largo Resources Ltd. (" Largo " or the " Company ") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that it has completed the repurchase and retirement of US$59.2 million in aggregate principal amount plus premium and accrued and unpaid interest. Th
    www.largoresources.com
  • s
    sk
    Mark Smith , Chief Executive Officer for Largo, stated: "Largo continues to make debt reduction a priority and has taken advantage of an additional opportunity to further eliminate a portion of its Notes by US$8.1 million . This repurchase for cancellation represents a significant decrease of approximately 75% of the Company's total outstanding Notes since May 2018 which is something the Company is extremely proud of."
  • K
    Karen
    Yesterday's announcement is transformational - Largo is now the dominant VRFB company in the world. Vionx is known for their VRFB technology, and now they have access to low cost, high quality vanadium.
    It's a Win / Win

    And the added benefit is that vanadium prices will rise as Largo's production gets used for batteries and isn't sold into the market - remember, Largo produces 8% of world's supply of vanadium.

    Largo now has a "moat" around their business - As Vanadium prices increase their competition struggles as they must go into the market and buy vanadium while Largo's cost is just their cost of production, or about $3.00 per pound.

    As the market digests this news and investors understand that Largo 2.0 is a battery company, all the green tech, clean tech funds and ETFs and other indexes will buy the stock.
  • J
    Julian
    Largo Resources Ltd. has added a new press release to its website:

    Largo Secures 1.4 GWh Nameplate Capacity Stack Manufacturing Facility and Product Development Center; Appoints Energy Executive as VP of Operations

    Stack manufacturing facility and product development center in Massachusetts, U.S. secured with an expected manufacturing capacity of up to 1.4 gigawatt hours (“GWh”) per year
    Electrolyte, electrolyte tank and stack container manufacturing center approved
    Energy industry executive to focus on driving the development of its clean energy division, including the commercialization and strategic deployment of its VCHARGE± system
    Capital expenditures of US$4.4 million expected in 2021 for the Company’s clean energy division
    TORONTO--(BUSINESS WIRE)-- Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce key developments in its clean energy division to scale up manufacturing capacity of its VCHARGE± vanadium redox flow battery (“VRFB”) system to meet expected deployment targets.

    The Company is also pleased to announce that Mr. Salvatore Minopoli has been appointed as Vice President of Operations of Largo Clean Energy with overall responsibility for commercial development and implementation of the strategic business growth plan.

    VCHARGE± Manufacturing Strategy Developed

    During Q1 2021, the Company finalized the manufacturing strategy for its clean energy division and began to establish the supply chain required to deliver on its targeted deployment timelines and cost structure. In April 2021, the Company secured a location for its stack manufacturing and product development center in Massachusetts, U.S. with an expected nameplate manufacturing capacity of 1.4 GWh per year. This facility will be the global headquarters of Company’s clean energy division. The Company also approved a location in New Hampshire, U.S. for its clean energy division’s electrolyte production and manufacturing of containerized VRFB systems.

    Paulo Misk, President and CEO of Largo, stated: “We continued to make considerable progress in advancing our clean energy division with the view of becoming a leading player in the long-duration energy storage sector with our superior VRFB technology. I am pleased to report that the Company secured its U.S. based stack manufacturing facility and product development center, which is expected to have an annual manufacturing capacity of 1.4 GWh.”

    He continued: “Supported by robust sector demand and global carbon reduction targets, we continue to view the strategic growth opportunity associated with our clean energy division as a strong source of value creation for the Company. We are planning Largo’s Battery Day to highlight our development strategy, showcase the VCHARGE± system technological differentiations and detail the Company's sizable growth opportunity in the long-duration energy sector as we position ourselves toward a sustainable future. We will provide a date for this event soon.”

    The Company is progressing with the certification of its VCHARGE± system under UL1973 and UL9540 requirements and expects to conclude this process shortly. Hiring of additional personnel to support the Company’s anticipated targets continues.

    Appointment of Mr. Salvatore Minopoli as VP of Operations

    “The appointment of an energy industry expert of Mr. Minopoli’s caliber is a further validation of Largo’s proposed business proposition and the tremendous opportunity that exists with our anticipated global deployment of our VCHARGE± system,” said Paulo Misk, President and CEO of Largo. “Salvatore’s in-depth knowledge of the energy sector, combined with his extensive leadership experience in advancing new energy projects will enable Largo to strategically advance the development of its clean energy division.”

    Mr. Minopoli brings over 30 years of U.S. energy industry experience to the Largo executive team, including extensive development and execution of utility-scale projects in both regulated and merchant energy markets in the U.S. and internationally. He has extensive experience in the successful development and execution of gas and renewable projects, holding leadership positions for both major U.S. utilities and energy technology providers. Most recently, Mr. Minopoli served as Vice President of Highview Power where he led the deployment and business growth of its long-duration energy storage technology in the U.S. Minopoli holds a BS in Chemical Engineering from Catholic University, an MS in Engineering Management from George Washington University, and served as an officer in the United States Navy, Naval Construction Battalion.

    “Largo is a global leader in the supply of high-quality vanadium and possesses one of the most advanced and commercially available energy storage technologies for long-duration. This combination is expected to bring prospective customers unique value and assurance for their clean energy transition,” commented Minopoli.“I’m excite
  • S
    Slashnuts
    Largo Announces Results of Excess Cash Flow Offer

    June 05, 2019

    TORONTO, June 5, 2019 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) announces that it has repurchased approximately US$6.7 million in principal amount of its 9.25% Senior Secured Notes due 2021 (the "Notes"). The Notes were repurchased at a purchase price of 103% of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date, pursuant to the terms of the excess cash flow offer that Largo was obligated to make to holders of Notes in accordance with the indenture governing the Notes. The excess cash flow offer was made pursuant to an offer to purchase dated May 3, 2019, which set forth the terms of the excess cash flow offer. In aggregate, Largo paid approximately US$6.9 million in connection with the repurchase under the excess cash flow offer (including principal, premium and accrued but unpaid interest). Following this repurchase, the principal amount remaining outstanding under the Notes is approximately US$22.4 million.
  • s
    sk
    Mark Smith: Absolutely. It's really quite simple, we have one of the best vanadium resources in the world, we have the best processing in the world, and we produce the best product in the world. Increased vanadium prices as a result of the supply and demand shortage right now is allowing the company to generate very large amounts of cash. There are very few ways that we can spend the cash, and the Company will be looking for ways to distribute that cash back in the form of either a dividend or a share buyback program. When the decision is made the company make an announcement to the market.

    I think that will be a very exciting time for shareholders in Largo, especially the ones that have been there for seven or eight years, but we certainly welcome new ones as well. You'll see the company sending capital back to the shareholders, and that's how this whole system is supposed to work. So we're anxious for that day to come.

    Dr. Allen Alper: Well that's great because my family and I are shareholders of Largo and we appreciate it.
    Mark Smith: Just to emphasize the whole team effort again, at Largo. This has been a very long road that we've taken. We've stayed committed to it, we kept our passion and our commitment to the Company strong, and it is really wonderful to be in the position that we are today. We don't take it lightly. We remember where we came from, so we're going to continue to work hard every day to make this Company successful.
  • s
    sk
    From KHA341 on stockhouse

    About Alberto Beeck
    Alberto Beeck is one of those insiders who really believe in having a lot of skin in the game.

    When he was elected to Largo’s BoD on June 29 2016, Beeck via Cranley Investment Holdings (CIH) and Cranley Trust (2 entities under his control) already owned 32.6M LGO common shares. After joining the BoD Beeck via Cranley accumulated ~23M more shares at an average of 47 cts / share by participating in various PP. By the end of 2017 they owned ~55.2M shares (and ~24M warrants) representing ~10.5% of Largo’s outstanding common shares. On July 26 2018, they sold through the Secondary offering ~33.2M shares @ a unit price of $1.40. Following the closing of the Secondary Offering, Beeck / CIH controlled 21,926,489 shares representing 4.20% of the o/s common shares of Largo (8.82% on a partially diluted basis in the event that Mr. Beeck and CIH exercise all of the convertible securities held or controlled by them). Since then Bee. On Oct 12 2018 they disposed of another 8M shares @ US$2.08 / unit. After that 200K shares were sold @ $3.15 / unit on Dec 13 and another 408K @ $3.10 the next day. The balance of their holdings is now 13.3M common shares and 24.2M warrants (to be expired in 2022).

    In brief it is safe to say that Alberto Beeck has realized 10s of millions of dollars in capital gain thank to his belief in Largo. A clear proof that having skin in the game does pay off.
    Imo, they part on good terms.

    DYODD.
  • s
    sk
    Largo Resources Reports Strong Second Quarter 2019 Producti
    Largo Resources Ltd. has added a new press release to its website:

    Largo Resources Reports Strong Second Quarter 2019 Production Results
    Q2 2019 V2O5 production of 2,515 tonnes, an increase of 20% over Q1 2019 and 2% over Q2 2018
    Record monthly V2O5 production of 926 tonnes achieved in June
    Successful start to expansion project ramp-up; Commissioning and ramp-up expected to conclude in Q3 2019
    Global V2O5 recovery rate of 79.1% in Q2 2019; Second quarter of strong global recoveries in 2019
    Q2 2019 financial results conference call: Wednesday, August 14th, 2019 at 11:30 a.m. EDT