Largo Resources (Otc) (TSE:LGO) has released an update.
Largo Resources reports a net loss of $32.4 million for 2023, with revenues declining by 13% from the previous year due to decreased vanadium prices and increased operating costs. Despite a challenging market, the company achieved a 38% increase in Q4 vanadium production and is focusing on operational efficiency and cost reduction strategies. Noteworthy is the company’s expansion into ilmenite concentration and strategic discussions with Stryten Energy LLC for a potential joint venture.
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