Largo reports Q3 V2O5 production up 42% y/y to 3,072 tons

Largo (LGO) reports its strongest quarterly production in seven quarters with 3,072 tonnes or 6.8M lbs of vanadium pentoxide or V2O5 equivalent in Q3. Ilmenite production increased 90% over Q2 to 16,383 tonnes, with sales of 19,572 tonnes, representing a 60% increase over the same prior comparative quarter. While vanadium sales totaled 1,961 tonnes, the Company continues to optimize its global sales strategy, including a reduction of excess vanadium inventories while leveraging the expertise of its seasoned commercial team to unlock emerging opportunities in the vanadium and titanium sectors. The Company is also pleased to announce that it has signed binding documentation with the Commodities business of a New York-based asset manager, with over $20B in assets under management , to supply 2,100 tonnes of standard grade V2O5 for consideration of approximately $23.5M. Largo expects to deliver the material in staggered shipments between October 17 and March 31 with funds being received upon each delivery. At the option of the Buyer, who must elect the total volume no later than 90 calendar days prior to September 30, 2027, Largo is obligated to repurchase up to a maximum of 2,100 tonnes of standard grade V2O5 at a fixed price not exceeding $7.00 per lb V2O5, with delivery required by September 30, 2027…