Largo Reports Highlights of its Fiscal 2016 Financial and Operating esults

Largo Resources (TSX:LGO) has released its financial results for the year ended December 31, 2016.

As quoted in the press release:

The reader is cautioned that the below excerpt should be read in conjunction with the Company’s annual consolidated financial statements for the years ended December 31, 2016 and 2015 as well as the management’s discussion and analysis for the year ended December 31, 2016 (“MD&A”). Note references in this press release refer to the notes contained in Largo’s annual consolidated financial statements for the years ended December 31, 2016 and 2015.

Q4 2016 highlights1

Q4 2016

Q4 2015

$

$

Revenues

31,482

7,600

Direct mine and mill costs

21,701

19,268

Cash provided by / (used in) operating activities

4,519

(2,761)

Summary of the Company’s 2016 financial results2

Dec. 31, 2016

Dec. 31, 2015

$

$

Cash

758

2,869

Total Current Assets

32,211

19,718

Mine properties, plant and equipment

321,084

296,041

Total Assets

353,295

315,759

Total Current Liabilities

94,082

100,313

Total Liabilities

326,469

282,817

2016

2015

$

$

Revenues

81,233

7,600

Operating costs

(113,173)

(29,377)

Direct mine and mill costs 3

(77,226)

(19,268)

Net loss

(55,630)

(129,960)

Basic loss per share

(0.14)

(0.78)

Net cash provided by (used in):

Operating activities

(15,942)

(8,421)

Financing activities

29,193

39,997

Investing activities

(15,565)

(39,818)

1.

 Financial numbers are reported in thousands of Canadian dollars, except for per share amounts.

2.

References to “2016” and “2015” refer to the twelve-month periods ended December 31, 2016 and December 31, 2015, respectively, and as reported in the Company’s annual consolidated financial statements for the years ended December 31, 2016 and 2015.

3.

Refer to note 21.

Click here to read the full press release.

Get the Latest Vanadium Investing Stock Information

Get the latest information about companies associated with Vanadium Investing delivered directly to your inbox.

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply