Largo achieves record quarterly net income in Q1 while average V2O5 prices hit nine-year high [UPDATED]

Brazil-focused Canadian vanadium producer Largo Resources has reaped the benefits of strong vanadium pentoxide prices in the three months to March 31, with the company reporting its highest ever quarterly net income in its financial report published on Monday May 7.

Largo declared a net income of $45.8 million in the first quarter of 2018, while revenues rose 210% year on year in the same period to $91 million, the company said.
The significant increase in Largo’s net income and revenue was mainly attributed to multi-year high vanadium pentoxide prices in the quarter. Prices so far this year have reached levels last seen in October 2008.

Average prices for...

Published

Anna Xu

May 11, 2018

04:10 GMT

Shanghai