Australian Vanadium Limited (ASX:AVL) is a Western Australia-based company focused on the Vanadium supply chain, from mining to batteries. The company has a “pit to battery” strategy, which involves processing the vanadium and creating vanadium electrolytes to manufacture vanadium flow batteries (VFB) and become a VFB supplier in Australia.
AVL will generate vanadium concentrate at the mine, which will be fed to the company’s processing plant to produce vanadium pentoxide, which will then be used as feedstock for its vanadium electrolyte manufacturing facility. AVL will leverage its wholly-owned subsidiary, VSUN Energy, to create safe and reliable renewable energy storage solutions using VFB.
Currently, around 85 percent of the vanadium is sourced from China, Russia and South Africa. Vanadium is classified as a critical mineral in several countries, including the US, EU and Japan, and with its geopolitically stable environment and mining-friendly policies, Australia makes for an attractive, secure supply source.
AVL boasts a world-class vanadium asset in a tier-1 mining jurisdiction. The company’s flagship Australian Vanadium project is one of the most advanced vanadium projects in the world. The asset comprises vanadium, titanium and magnetite ore body located on wholly-owned tenements, making it scalable. The project will consist of a simple open pit mine and a processing plant, which will be close to a major port bringing lower-cost energy, water and manpower.
AVL’s recent merger with Technology Metals Australia (TMT) has provided several key benefits, including the consolidation of each company’s tenements into one big project. The merger has created a 17 kilometre strike for the high-grade magnetite domain, allowing for efficient mine infrastructure. Moreover, the merger improves the project's economics through access to high-grade mineralization, which is now unconstrained.
A bankable feasibility study (BFS) prior to the merger had the following key parameters:
Following the merger, the company is preparing an optimized feasibility study (OFS) to improve the capex and opex and deliver better project economics. The next steps for the project include a combined mineral resource estimate, publishing the OFS report, certain approvals, offtake agreements, and financing.
The demand for vanadium is expected to increase significantly due to the growth of VFBs. However, the fundamental demand for vanadium remains strong across the end markets, including its application in steel production, aerospace and energy storage. In fact, a sharp rise in demand for energy storage applications will result in a supply deficit that will grow from 2024 onwards.
Vanadium flow batteries have two tanks filled with vanadium electrolyte fuel. First invented 40 years ago, VFBs have since been commercialized for large-scale applications. The technology offers compelling cost savings for applications with greater than four hours of storage.
The VFB technology has several technological and economic merits that are driving the scale of the projects. First, it is superior economically for long-duration storage applications. Second, it is non-flammable, making it very stable. Third, it provides 100 percent depth of discharge with multiple cycles. Fourth, it offers a life span of over 25 years. Fifth, it is easy to scale. It is well proven at MWh scale and is now moving towards GWh scale.
Given these techno-economic benefits, the VFB industry is experiencing unprecedented global growth, led by China. Currently, 208 VFBs are in operation, 51 are under construction, and 87 new projects have been announced. To give an idea of this rising demand, in 2025, China alone will consume 11 times AVL's annual production of 11,200 tons of V2O5.
The company has a well-crafted vertical integration strategy to participate across the vanadium supply chain. In addition to supplying vanadium, the company is present in the manufacturing of vanadium electrolyte and batteries.
AVL’s Vanadium Electrolyte Facility official opening by Australian Government minister for resources and Northern Australia Hon. Madeleine King MP alongside non-executive director Anna Sudlow, chair Cliff Lawrenson, CEO Graham Arvidson and non-executive director Miriam Stanborough.
AVL has completed the construction of a vanadium electrolyte manufacturing plant in Perth, Western Australia. The project has received funding from the Australian Government. The plant has a capacity of 33 MWh per annum of energy storage. The first production was completed in 2024, and VFB manufacturers will test samples. The electrolyte produced is further processed by AVL’s wholly-owned subsidiary, VSUN Energy, to create large scale energy storage solutions using VFBs.
The segment comprises the Australian Vanadium project and other exploration projects.
The Australian Vanadium project is the company’s flagship asset and one of the most advanced vanadium projects in the world. The Australian government recognized the project, which received federal major project status.
The project consists of high-grade V-Ti-Fe deposits located in Murchison Province, around 43 kilometres from the mining town of Meekatharra in Western Australia. It is around 740 kilometres from Perth, and a processing plant is located near the port city of Geraldton. The project comprises 15 tenements and spans an area of 200 square kilometres.
Before its merger with TMT, the company released a bankable feasibility study in 2022, showing a total mineral resource estimated at 239 million tons (Mt) at 0.73 percent of V2O5. The project IRR stands between 16.1 percent and 26.9 percent based on various price assumptions.
Following the merger with TMT, the company anticipates better project economics, given that it will now have easy access to the ore body's high-grade areas, which was previously constrained. Prior to the merger, TMT tenements at the northern end of the ore body and a small block at the southern end were surrounded by AVL’s tenements, which constrained the development. The merger has created 17 kilometres of strike for the high-grade magnetite domain and allows for efficient mine infrastructure.
The Coates project is a non-core project for the company. The project is 60 kilometres east of Perth in the Shire of Wundowie. A significant discovery of Ni-Cu-PGE by Chalice Gold Mines is just 20 kilometres from the company’s tenement, which covers an area of 111.6 square kilometres, with new applications adding 52.6 square kilometres to the area. Historic exploration of the project focused on iron-titanium-vanadium. The focus was the recovery of vanadium-titano-magnetite concentrate for use in the historical Wundowie smelter.
Nowthanna Hill is a non-core project for the company located 50 kilometres south of Meekatharra in Western Australia, where vanadium and uranium are co-mineralized. The project resource estimate was completed in 2019. Based on 250 parts per million (ppm) V2O5 cut-off, the inferred mineral resource stands at 3.2 Mt at 334 ppm V2O5. Based on 200 ppm U3O8 cut-off, the inferred mineral resource stands at 4.22 Mt at 409 ppm U3O8.
This segment comprises AVL’s wholly-owned subsidiary, VSUN Energy, which develops safe and reliable renewable energy storage solutions using VFB technology. VSUN Energy is focused on developing the Australian market for VFB, and utilizes VFB technology from various global OEMs, including Invinity Energy Systems, CellCube, Sumitomo and VFlow Tech.
The company is working on several projects for VFBs in Australia, including:
This segment comprises AVL’s vanadium electrolyte manufacturing facility in Western Australia. The facility was successfully and safely completed in December 2023. It was made possible with support from the federal government, which awarded AVL a $3.69 million Australian Government Modern Manufacturing Translation grant in 2021 under the National Manufacturing Priority Roadmap.
The facility can support 33 MWh of VFB energy storage per year, and AVL has the capability to expand conveniently. By sourcing electrolyte locally, AVL aims to establish itself as a reliable provider of vanadium electrolyte for battery projects not only in Australia but also across the broader region.
Cliff Lawrenson has a decade of experience as a chairman and director of both private and public companies. Currently, he serves as chairman of Paladin Energy, Caspin Resources and Pacific Energy. Previously, he held senior leadership roles at various companies in the mining and mining services sectors.
Daniel Harris has a B.Sc. degree and has rich experience in the vanadium industry in the technical and financial domains. He is currently a director Queensland Energy & Minerals, and Flinders Mines. Previously, he held senior leadership roles at U.S Vanadium, Atlas Iron, Atlantic, Evraz Group, Vametco Alloys and Strategic Minerals.
Miriam Stanborough has a degree in chemical engineering and has over two decades of experience in the mineral processing industry. She has held senior leadership roles at Alcoa, Monadelphous, Iluka Resources and WMC Resources. She currently serves on the boards of Pilbara Minerals and BCI Minerals, and is a chair of the Minerals Research Institute of Western Australia.
Peter Watson has a degree in chemical engineering and has over four decades of rich experience in various domains at several ASX-listed companies. He is a director of Paladin Energy, New Century Resources and Strandline Resources.
Anna Sudlow has a B. Com degree, a CPA designation, and an MBA. She is a senior finance executive with rich experience in the mining and resources sector. She is currently CFO at Paladin Energy.
Jo Gaines has a BA degree from the University of Western Australia, a diploma in Occupational Health and Safety from Curtin University, and is also a graduate of the Australian Institute of Company Directors. She has previously served as deputy chief of staff for the Premier of Western Australia. She currently serves as a chair of the Government Employees Superannuation Board and is also associated with Chalice Mining, CinefestOZ and Gaines Advisory.
Graham Arvidson has over 18 years of experience in the minerals sector, working with commodities such as vanadium, nickel, lithium and others. He also has rich project development experience, covering various areas such as managing contracts, tendering, negotiations, O&M and project delivery.
Todd Richardson has a B.Sc. degree and an MBA. He has over two decades of experience in the vanadium industry across various domains such as design, commissioning and operations. He has rich experience in operations management and technical services in the US and Australia.
Louis Mostert has a bachelor’s degree in engineering and law from the University of Western Australia, and a diploma from the Governance Institute of Australia. He has over two decades of rich experience across various functions such as project finance, M&A, corporate advisory, insurance, work health and safety, governance, and compliance.
Tom Plant is a qualified chartered accountant with an MBA from INSEAD, an M.Sc. degree from Curtin University, and a B.Com. degree from the University of Western Australia. He is a seasoned finance professional with over thirty years of experience in corporate and commercial roles.
Ross Jennings has formal qualifications in health & safety, environmental management and HR. He has over 18 years of experience in the mining industry, holding leadership roles across various functions such as operations, health, safety and emergency response.
Flormirza Cabalteja has a degree in chemical engineering with 17 years of rich experience in the downstream refinery industry of vanadium, cobalt, nickel and ammonium phosphate-based fertilizers. She has extensive experience in both technical management and operational aspects.
Ian Prentice has a B.Sc. degree in geology from the University of Western Australia and has over three decades of experience in the global mining industry.
This profile was written in collaboration with Couloir Capital.
Australian Vanadium (ASX:AVL, FRA:JT71, OTC:ATVVF), FRA:JT71, OTC:ATVVF) holds one of the most advanced high-grade vanadium deposits in the world and now focuses significantly on developing its Australian Vanadium project, a high-grade vanadium, titanium and iron resource situated roughly 43 kilometers south of the mining town of Meekatharra in Western Australia.
The company's wholly-owned subsidiary VSUN Energy has current projects including the installation of a VRFB to power an industrial chlorinator, as a standalone power system for a bore pump at a major nickel project, and to power the systems at an orchard in Victoria. VSUN Energy is also consulting with several major mining clients as the demand for vanadium is expected to double by 2032, with 90 percent of this demand driven by VRFBs.
The major component of a VRFB is vanadium electrolyte. This solution of vanadium mixed with acid and water will be manufactured by AVL at a facility being constructed in the Perth region.
Both VSUN Energy and the AVL are part of Australian Vanadium's vertically integrated strategy, through which it intends to support every stage of VRFB production. This will, the company maintains, give it the ability to not only produce the world's highest-quality vanadium, but also tailor that vanadium to its customers’ needs.
This Australian Vanadium profile is part of a paid investor education campaign.*
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February 14th
| Presentation | Ticker(s) |
| Deep Yellow Ltd. | OTCQX: DYLLF | ASX: DYL |
| Madison Metals Inc. | OTCQB: MMTLF | CSE: GREN |
| Blue Sky Uranium Corp. | OTCQB: BKUCF | TSXV: BSK |
| Kraken Energy Corp. | OTCQB: UUSAF | CSE: UUSA |
| Fission Uranium Corp. | OTCQX: FCUUF | TSX: FCU |
| Peninsula Energy Ltd. | OTCQB: PENMF | ASX: PEN |
| Keynote Presentation: The Outlook for Vanadium Supply/Demand Projections and Analysis Terry Perles, Secretary of Board of Directors US Vanadium | |
| Energy Fuels Inc. | NYSE American: UUUU | TSX: EFR |
| Largo Physical Vanadium Corp. | TSXV: VAND |
| Currie Rose Resources Inc. | Pink: CUIRF | TSXV: CUI |
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| Australian Vanadium Limited | OTCQB: ATVVF | ASX: AVL |
February 15th
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| Vision Lithium Inc. | OTCQB: ABEPF | TSXV: VLI |
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| Metallic Minerals Corp. | OTCQB: MMNGF | TSXV: MMG |
| Faraday Copper Corp. | OTCQX: CPPKF | TSX: FDY |
| Avalon Advanced Materials Inc. | OTCQB: AVLNF | TSX: AVL |
| Sun Summit Minerals Corp. | OTCQB: SMREF | TSXV: SMN |
| Wealth Minerals Ltd. | OTCQB: WMLLF | TSXV: WML |
| Southern Silver Exploration Corp. | OTCQX: SSVFF | TSXV: SSV |
| Pacific Ridge Exploration Ltd. | OTCQB: PEXZF | TSXV: PEX |
February 16th
| Presentation | Ticker(s) |
| Guanajuato Silver Co Ltd. | OTCQX: GSVRF | TSXV: GSVR |
| Doré Copper Mining Corp. | OTCQX: DRCMF | TSXV: DCMC |
| Amex Exploration Inc. | OTCQX: AMXEF | TSXV: AMX |
| Barksdale Resources Corp. | OTCQX: BRKCF | TSXV: BRO |
| Grounded Lithium Corp. | OTCQB: GRDAF | TSXV: GRD |
| Giga Metals | OTCQX: HNCKF | TSXV: GIGA |
| Lavras Gold Corp. | OTCQB: LGCFF | TSXV: LGC |
| Century Lithium Corp. | OTCQX: CYDVF | TSXV: LCE |
| Power Nickel Inc. | OTCQB: PNPNF | TSXV: PNPN |
| O3 Mining Inc | OTCQX: OIIIF | TSXV: OIII |
| Outcrop Silver & Gold Corp. | OTCQX: OCGSF | TSXV: OCG |
| Empress Royalty Corp. | OTCQX: EMPYF | TSX-V: EMPR |
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Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) announces a revised release date for its first quarter 2024 financial results to Wednesday, May 15, 2024. The Company will host a conference call to discuss its first quarter 2024 results and other updates on Thursday, May 16 at 10:00 a.m. ET.
To join the conference call without operator assistance on the day, you may register and enter your phone number at https://emportal.ink/3JCUmjJ to receive an instant automated call back.
You may also dial direct to be entered to the call by an operator using the dial-in details provided below.
Conference Call Details | |
Date: | Thursday, May 16, 2024 |
Time: | 10:00 a.m. ET |
Dial-in Number: | Local: +1 (416) 764-8650 |
North American Toll Free: +1 (888) 664-6383 | |
Conference ID: | 02623876 |
RapidConnect Link | |
Replay Number: | Local / International: + 1 (416) 764-8677 |
North American Toll Free: +1 (888) 390-0541 | |
Replay Passcode: 623876# | |
Website: | To view press releases or any additional financial information, please visit the Investor Resources section of the Company's website at: https://www.largoinc.com/investors/Overview |
About Largo
Largo is a globally recognized vanadium company known for its high-quality VPURE TM and VPURE+ TM products, sourced from its Maracás Menchen Mine in Brazil. The Company is currently focused on ramping up production of its ilmenite concentrate plant and is undertaking a strategic evaluation of its U.S.-based clean energy business, including its advanced VCHARGE vanadium battery technology to maximize the value of the organization. Largo's strategic business plan centers on maintaining its position as a leading vanadium supplier with a growth strategy to support a low-carbon future.
Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information on the Company, please visit www.largoinc.com .
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aguthrie@largoinc.com
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Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) will release its first quarter 2024 financial results on Friday, May 10, 2024. Additionally, the Company will host a conference call to discuss its first quarter 2024 results and other updates on Monday, May 13 at 3:30 p.m. ET.
To join the conference call without operator assistance on the day, you may register and enter your phone number at https://emportal.ink/3JCUmjJ to receive an instant automated call back.
You may also dial direct to be entered to the call by an operator using the dial-in details provided below.
Conference Call Details | |
Date: | Monday, May 13, 2024 |
Time: | 3:30 p.m. ET |
Dial-in Number: | Local: +1 (416) 764-8650 |
North American Toll Free: +1 (888) 664-6383 | |
Conference ID: | 02623876 |
RapidConnect Link | |
Replay Number: | Local / International: + 1 (416) 764-8677 |
North American Toll Free: +1 (888) 390-0541 | |
Replay Passcode: 623876# | |
Website: | To view press releases or any additional financial information, please visit the Investor Resources section of the Company's website at: https://www.largoinc.com/investors/Overview |
About Largo
Largo is a globally recognized vanadium company known for its high-quality VPURE TM and VPURE+ TM products, sourced from its Maracás Menchen Mine in Brazil. The Company is currently focused on ramping up production of its ilmenite concentrate plant and is undertaking a strategic evaluation of its U.S.-based clean energy business, including its advanced VCHARGE vanadium battery technology to maximize the value of the organization. Largo's strategic business plan centers on maintaining its position as a leading vanadium supplier with a growth strategy to support a low-carbon future.
Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information on the Company, please visit www.largoinc.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502639799/en/
For further information:
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
aguthrie@largoinc.com
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All dollar amounts expressed are in thousands of U.S. dollars unless otherwise indicated.
Q1 2024 Highlights
Largo Inc. (" Largo " or the " Company ") ( TSX: LGO ) ( NASDAQ: LGO ) today announces the implementation of extensive changes to reduce production costs and improve productivity at its Maracás Menchen Mine through several initiatives, including the reduction of haulage distances, costs of inputs as well as comprehensive review of all contracts. The Company will reduce the number of contractors by 20% in Q2 2024 and prioritize its capital expenditures for low-cost, high-return projects in order to optimize the use of cash. The Company also announces quarterly production of 1,729 tonnes of vanadium pentoxide (" V 2 O 5 ") equivalent and sales of 2,765 tonnes V 2 O 5 equivalent in Q1 2024.
As part of the plan to increase productivity, the Company plans to increase its annual crushing capacity by approximately 220,000 tonnes or 22% by the end of Q2 2024 following the installation of a mobile crusher, dry magnetic and wet magnetic separator from inventory, which is expected to compensate for lower grades and higher silica levels resulting from increased processing of disseminated vanadium ore. These actions are expected to maintain the Company's production capacity by providing the required throughput and grades needed to achieve its set production targets in accordance with its 2024 mining plan.
Also, starting in Q2 2024, the Company plans to feed its ilmenite plant with ilmenite feedstock from its non-magnetic ponds from ores processed in prior years. This action is expected to increase ilmenite production in 2024 as well as improve titanium dioxide (" TiO 2 ") grades as non-magnetic material stored in the Company's ponds contain higher TiO 2 grades than feedstock from current mine operations.
For the remainder of 2024, the Company expects a reduction of approximately BRL$48 million in operating expenditures and approximately BRL$12 million in ilmenite capital expenditures.
Celio Pereira, COO of Largo, Brazil, stated: "Maximizing operational output and reducing costs remain top priorities at Largo. We have identified several avenues for cost reduction at the Maracás Menchen Mine and we expect to realize the benefits of these initiatives in the second half of the year. When combined with our productivity improvement initiatives this year, these measures are expected to assist the Company in achieving its revised 2024 cost guidance and offset some of the impact of lower vanadium prices." He continued: "In Q1 2024, the operations team conducted the planned annual maintenance at the mine, which included the replacement of the kiln refractory as well annual maintenance actions performed in the crushing, milling, ilmenite, leaching and chemical sections of the plant. Following this maintenance, we also expect to remain within our annual production guidance of 9,000 to 11,000 tonnes of V 2 O 5 for 2024."
Maracás Menchen Mine Operational and Sales Results
Q1 2024 | Q1 2023 | |
Total Mined – Dry Basis (tonnes) | 3,243,492 | 3,523,656 |
Total Ore Mined (tonnes) | 604,231 | 341,967 |
Ore Grade Mined - Effective Grade (%) 2 | 0.53 | 0.81 |
Concentrate Produced (tonnes) | 74,986 | 78,695 |
Grade of Concentrate (%) | 2.90 | 2.99 |
Global Recovery (%) 3 | 70.5 | 83.0 |
V 2 O 5 produced (Flake + Powder) (tonnes) | 1,729 | 2,111 |
V 2 O 5 produced (equivalent pounds) 2 | 3,811,788 | 4,653,953 |
Total V 2 O 5 equivalent sold (tonnes) | 2,765 | 2,849 |
Produced V 2 O 5 equivalent sold (tonnes) | 2,609 | 2,604 |
Purchased V 2 O 5 equivalent sold (tonnes) | 156 | 245 |
Ilmenite concentrate produced (tonnes) | 9,563 | Nil |
Ilmenite concentrate sold (tonnes) | 513 | Nil |
Q1 2024 Production and Sales Overview
Revised 2024 Cash Operating Costs Excluding Royalties 1
Cash operating costs excluding royalties ($ / lb V 2 O 5 sold) i | Previous Q2 | Previous Q3 | Previous Q4 | Unchanged 2024 | ||||
Low | High | Low | High | Low | High | Low 4.50 | High 5.50 | |
4.15 | 5.15 | 4.75 | 5.75 | 4.75 | 5.75 | |||
Revised Q2 | Revised Q3 | Revised Q4 | ||||||
Low | High | Low | High | Low | High | |||
4.50 | 5.50 | 4.50 | 5.50 | 4.50 | 5.50 | |||
Ilmenite Concentrate Plant Capital Expenditures | Previous 2024 | Revised 2024 | ||||||
$3.2 – 3.8 million | $1.0 – 2.0 million | |||||||
About Largo
Largo is a globally recognized vanadium company known for its high-quality VPURE TM and VPURE+ TM products, sourced from its Maracás Menchen Mine in Brazil. The Company is currently focused on implementing an ilmenite concentrate plant and is undertaking a strategic evaluation of its U.S.-based clean energy business, including its advanced VCHARGE vanadium battery technology to maximize the value of the organization. Largo's strategic business plan centers on maintaining its position as a leading vanadium supplier with a growth strategy to support a low-carbon future.
Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information on the Company, please visit www.largoinc.com .
Cautionary Statement Regarding Forward-looking Information:
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities legislation. Forward‐looking statements in this press release include, but are not limited to: the achievement of operational stability; Largo's ability to improve cash flow in the future; implemented cost reduction measures; expected sales; diversifying the Company's product offering; optimizing operations, continued advancements at the Maracás Menchen Mine; the conclusion of the installation of Largo's battery project; and future commitments to purchase V 2 O 5 .
The following are some of the assumptions upon which forward-looking statements are based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price of V 2 O 5 and other vanadium commodities; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Maracás Menchen Mine or relating to LCE; the availability of financing for operations and development; the ability to mitigate the impact of continuing heavy rainfall; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources and reserves at the Maracás Menchen Mine are within reasonable bounds of accuracy (including with respect to size, grade and recovery and the operational and price assumptions on which such estimates are based); the Company's sales and trading arrangements will not be affected by the evolving sanctions against Russia; and the Company's ability to attract and retain skilled personnel and directors; the ability of management to execute strategic goals.
Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or LCE to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on www.sedarplus.com and available on www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's most recent annual and interim MD&A, which also apply. Largo's most recent annual and interim MD&A are available on Largo's SEDAR+ profile at www.sedarplus.com .
Trademarks are owned by Largo Inc.
1 Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.
2 Effective grade represents the percentage of magnetic material mined multiplied by the percentage of V2O5 in the magnetic concentrate.
3 Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240430525815/en/
For further information:
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
aguthrie@largoinc.com
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