Largo Resources (TSE:LGO) has released an update.
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Largo Resources reports a challenging second quarter in 2024 with revenues dropping to $28.6 million due to lower vanadium prices and sales volumes, resulting in a net loss of $14.5 million. Despite the decline, the company is focusing on operational efficiencies and cost-cutting measures, while expressing optimism about increased vanadium demand due to China’s new steel rebar standards. Largo also mentions ongoing negotiations for a joint venture with Stryten Energy LLC and has rescheduled kiln maintenance to avoid impacting 2024 vanadium production.
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