Largo Resources (Otc) (TSE:LGO) has released an update.
Largo Resources reported a decrease in Q1 2024 revenues to $42.2 million from $57.4 million in Q1 2023, attributed to a significant drop in vanadium prices and increased operating costs due to extended maintenance. The company experienced a net loss of $13.0 million, compared to a $1.2 million loss in the previous year, and is undertaking cost reduction and productivity initiatives to improve future profitability. Despite these challenges, Largo is focusing on its strategic review process and operational improvements at its Maracás Menchen Mine.
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