Largo Inc (LGO)

[Slashnuts]

Largo Reports Record Q318 Results...EPS $.14

https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00005504&issuerType=03&projectNo=02841932&docId=4417804

Q318 Revenue $149,458 CAD Generated $113,439 In Cash...
The Company recognized revenues of $149,458 in Q3 2018 as compared to $53,507 in Q3 2017, with production for Q3 2018 of 2,563 tonnes of V2O5 being 50 tonnes higher than the 2,513 tonnes produced in Q3 2017. In addition, the increase in revenues is primarily attributable to the increase in V2O5 price, with an average price per lb of V2O5 of approximately US$19.66 for Q3 2018, compared to approximately $8.24 for Q3 2017.

In Q3 2018 the Company generated positive cash from operating activities, with net cash provided by operating activities of $113,439, compared to $8,111 in Q3 2017. This was primarily due to revenues exceeding direct mine and mill costs and royalties (both note 20) by $120,154 in Q3 2018, compared to $31,406 in Q3 2017, partially offset by the changes in working capital of $(7,009) and income tax paid of $7,007. For the nine months ended September 30, 2018, cash provided by operating activities was $207,909 ($20,068 in the same prior year period) and is primarily attributable to the factors noted above for Q3 2018

Production in October was 897 tonnes of V2O5
Royalties for Q3 2018 were $8,029 ($1.42 or US$1.09 per lb of V2O5)

The Q3 2018 production of 2,563 tonnes of V2O5 was a new quarterly production record and is primarily due to improved operational stability in all operational areas.

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