The following is a summary of the Largo Inc. (LGO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Largo's revenues for Q1 2024 were reported to be $42.2 million, a decrease from their Q1 2023 revenues of $57.4 million due primarily to lowered vanadium prices.

• Operating costs for the quarter stood at $49.7 million, up from the previous year's $45.9 million.

• A net loss of $13 million was reported, including $4.4 million designated as non-recurring items.

• Basic loss per share increased to $0.20 from $0.02.

Business Progress:

• Largo is committed to enhancing production efficiencies and dropping cash costs to counterbalance low vanadium prices and return to profitability.

• Projected reductions in operating and capital expenditures for 2024 amount to approximately BRL40 million and BRL12 million respectively, reflecting the implementation of productivity initiatives and cost-saving measures.

• The company is progressing on a strategic partnership with Straton Energy in a bid to expand its Clean Energy business and energy storage product range.

More details: Largo Resources IR

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