Geometry Dash APK Hill Climb Racing APK
64.4 F
New York
Sunday, June 13, 2021

Largo Resources Ltd (OTCMKTS:LGORF) Continues to Take Giant Steps

Must read

Bombardier, Inc. (OTCMKTS:BDRBF) Continues to Gain Momentum and Strength

Many stocks have managed to record significant gains in recent months and one that often flies under the radar is Bombardier,...

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Voyager Digital Ltd (OTCMKTS:VYGVF) Hits All-Time High on Download News

The remarkable rally enjoyed by several crypto assets over the course of the past months has also resulted in an increased demand...

Solar Integrated Roofing Corp (OTCMKTS:SIRC) Surges Higher On Sector Strength

The Solar Integrated Roofing Corp (OTCMKTS:SIRC) stock has come into sharp focus among investors and on Wednesday, the stock made significant gains...

One of our consistent favorites on the OTC over the past year has been Largo Resources Ltd (OTCMKTS:LGORF). The rare resource player with its South American exposure and support from Leon Cooperman, among others, just announced record cash provided before non-cash working capital items of C$127.5 million and basic earnings per share of C$0.14 on record revenues of C$149.5 million during the third quarter 2018.

According to the release, production at the Maracás Menchen Mine for the quarter was 2,563 tonnes of V2O5, representing a new quarterly production record and the Company’s strongest quarter of production to date.

Largo Resources Ltd (OTCMKTS: LGORF) bills itself as a natural resource development and exploration company, engages in the acquisition, exploration, and development of mining and exploration properties located in Brazil and Canada. The company primarily explores for vanadium, iron, tungsten, molybdenum, chromite, palladium, and platinum group metals. Its flagship project is the Maracás Menchen Mine that consists of 18 concessions covering an area of 17,690.45 hectares located in Bahia State, Brazil.

The company was formerly known as Consolidated Kaitone Holdings Ltd. and changed its name to Largo Resources Ltd. in June 2004. Largo Resources Ltd. was incorporated in 1988 and is headquartered in Toronto, Canada.

Moreover, Largo Resources Ltd. is a mid-tier mining development company primarily focused on the production of vanadium at its Maracas Menchen Mine in Brazil.

According to company materials, “Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at the Maracás Menchen Mine located in Bahia State, Brazil. The Company’s common shares are principally listed on the Toronto Stock Exchange.“

Find out when $LGORF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, LGORF just announced record cash provided before non-cash working capital items of C$127.5 million and basic earnings per share of C$0.14 on record revenues of C$149.5 million during the third quarter 2018. In all we’ve witnessed 18% piled on for shareholders of the stock during the trailing month. In addition, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 90% above its longer-run average levels.

Mark Smith, Chief Executive Officer for Largo, stated, “Largo delivered robust financial performance as a result of record operational output from the Maracás Menchen Mine in the third quarter. The Company also reported the highest ever revenues and operating cash flows to date of $149.5 million and $113.4 million, respectively, and continues to strengthen its balance sheet every quarter. Production at the Maracás Menchen Mine continued to be strong delivering its best quarter of the year with record production of 2,563 tonnes of V2O5. We continue to advance the expansion project at the Maracás Menchen Mine and the Company remains on track to achieve its increased production guidance for 2018.”

Now commanding a market cap of $1.83B, LGORF has a significant war chest ($285.4M) of cash on the books, which stands against about $271.5M in total current liabilities. One should also note that debt has been growing over recent quarters. LGORF is pulling in trailing 12-month revenues of $296.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 188.6%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $LGORF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $LGORF, either long or short, and we have not been compensated for this article.

Latest article

American Diversified Holdings Corp (OTCMKTS:ADHC) Nears Critical Level

When a stock records significant gains and then crashes and repeats over the course of a few months, then it might be...

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

BIGG Digital Assets Inc (OTCMKTS:BBKCF) is Struggling to Regain Momentum

Over the course of the past few months, the continued rally in some of the biggest cryptocurrencies has led to considerable interest...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service