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.

Source: www.largoresources.com