Vanadiumcorp Announces Grant Of Stock Options
- Revenues of $28.2 million in Q1 2025 vs. 42.2 million in Q1 2024; Revenues per pound sold 1 of $6.04 in Q1 2025 vs. $6.91 in Q1 2024; Lower revenues are a result of continued downward pressure in vanadium prices and lower sales volumes
- Operating costs of $42.5 million in Q1 2025, 15% below Q1 2024
- Adjusted cash operating costs excluding royalties per pound 1 of $3.88 in Q1 2025, 27% below Q1 2024, despite mining lower ore grades and decreased production rates
- Net loss of $9.2 million in Q1 2025, which included $7.0 million in non-recurring items vs. a net loss of $13.0 million in Q1 2024, which included $4.4 million in non-recurring items
- Basic loss per share of $0.14 in Q1 2025 vs. basic loss per share of $0.20 in Q1 2024
- V 2 O 5 equivalent sales of 2,046 tonnes (inclusive of 158 tonnes of purchased material) in Q1 2025 vs. 2,765 equivalent tonnes sold (inclusive of 156 tonnes of purchased material) in Q1 2024
- V 2 O 5 production of 1,297 tonnes (2.8 million lbs 2 ) in Q1 2025 vs. 1,729 tonnes produced in Q1 2024; Lower production in Q1 2025 was primarily due to impacts from mining lower-grade ore zones required as part the Company’s open pit mine sequencing, reduced equipment availability on an expanded mine contractor fleet, and operational adjustments related to the kiln refractory replacement completed in Q4 2024, which required additional adjustments in early 2025
- The Company produced 6,162 tonnes of ilmenite concentrate in Q1 2025 vs. 9,563 tonnes in Q1 2024, and sold 8,647 tonnes vs. 513 tonnes in Q1 2024
- The Company maintains its revised 2025 production, sales and cost guidance and expects a return to more normalized production levels over the remainder of the year as throughput increases and operational turnaround initiatives progress
Vanadium Market Update
- Vanadium markets in Europe and China remain weak, pressured by low steel and infrastructure demand and oversupply from Chinese and Russian producers, though aerospace demand is expected to pick up in the second half of 2025
- U.S. ferrovanadium (“FeV”) prices are holding at levels approximately 9% higher than at the start of 2025, supported by increased buying interest amid geopolitical tensions and policy shifts that have tightened supply dynamics
- The average benchmark price per pound of V 2 O 5 in Europe was $5.26 in Q1 2025, a 18% decrease from the average of $6.44 seen in Q1 2024; The average benchmark price per kg of FeV in Europe was $24.26 in Q1 2025, a 13% decrease from the average of $27.96 seen in Q1 2024
- As of May 8, 2025, the average benchmark FeV price per pound of V was $15.25 in the U.S. (or approximately $33.62 per kg FeV), and as of May 9, 2025, the average benchmark price per pound of V₂O₅ was $5.20 in Europe
Largo Inc. (” Largo ” or the ” Company “) ( TSX: LGO ) ( NASDAQ: LGO ) today released financial results for the three months ended March 31, 2025. The Company reported quarterly vanadium pentoxide (” V 2 O 5 “) equivalent sales of…