Largo Resources announces record output of vanadium pentoxide in 2018
Date: Mar 27, 2019
BEIJING (Asian Metal) 27 Mar 19 – On March 26, Canadian-based Largo Resources Ltd. reported exceptional results for 2018, with net income of $316.0 million and basic earnings per share of $0.61 on record production of 9,830 tonnes of V2O5, representing the strongest year of earnings and production for the Company since the commencement of operations in 2014.
Total production from the Maracas Menchen Mine in 2018 was 9,830 tonnes of V2O5, exceeding the Company’s production guidance midpoint by 2%. This represents an increase of 6% over 2017 and is the strongest full year of production from the mine since operations commenced in 2014. The Company also achieved a new quarterly production record in Q4 2018 with 2,595 tonnes of V2O5 produced, up 1% from the previous quarter and representing the fourth consecutive quarter of production growth during 2018.
