Largo Resources (Otc) (TSE:LGO) has released an update.
Largo Resources reports a significant decline in Q1 2024 revenues to $42.2 million from $57.4 million in Q1 2023, attributed to falling vanadium prices and higher operating costs due to extended maintenance. The company faced a net loss of $13.0 million, a substantial increase from the previous year’s $1.2 million loss, despite a 7% increase in ilmenite concentrate production. Largo is actively implementing cost reduction and productivity initiatives amidst these financial challenges.
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