Largo Inc Boosts Vanadium Production And Launches Ilmenite Plant In Green Energy Push

Largo Inc., a vanadium producer based in Toronto, has caught the attention of analysts as it aims to boost production of the sought-after battery metal and launch its new ilmenite plant. Vanadium is a crucial component in the green energy economy, and Largo is a key player in the western market. In Q1 of 2023, the company’s vanadium production results were at the higher end of its quarterly guidance, and its ilmenite plant is on track for completion this quarter, with production set to ramp up in Q3 and Q4. Largo produced 2,111 tonnes of vanadium pentoxide (V2O5) and sold 2,849 tons of V2O5 in Q1 of 2023. Analysts predict that demand for vanadium will continue to grow in the coming years. As a result, Gordon Lawson of Paradigm Capital has rated the stock a Buy, Michael Heim of Noble Capital Markets has rated it Outperform, and Rule Investment Media LLC CEO Rick Rule recently named it one of his top picks. The reference date for this information is June 5, 2023.