Largo Inc. announced its Q1 2025 operational results, reporting vanadium pentoxide (V2O5) equivalent production of 1,297 tonnes and sales of 2,046 tonnes. Production was lower than anticipated due to mining lower-grade ore zones, reduced equipment availability, and operational adjustments from Q4 2024 kiln maintenance.
As a result of these impacts, Largo revised its 2025 V2O5 equivalent production guidance to a range of 8,500-10,500 tonnes, down from the previous 9,500-11,500 tonnes. Sales guidance was also adjusted downwards to 6,500-8,500 tonnes from 7,500-9,500 tonnes.
The company maintained its annual cost guidance range for 2025 but expects unit costs to be above annual guidance in Q2 2025. Largo is prioritizing critical mine stripping activities to access higher-grade ore later in the year, aiming to stabilize production in the second half.
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