Largo Inc. (NASDAQ:LGO) Q3 2023 Earnings Call Transcript

And what is happening is that the 1 mill is fully loaded and the other 1 is kind of loaded by half. So we’re planning to do that between now and the end of January to increase the capacity of producing concentrates for the kiln. That will require only a small additional CapEx for that particular project, but it would not require nothing else. In respect to the rest of the plant, most of the additional things that they were planning to do is the following: increase our capacity in the high grade and the high purity market, that is basic because the way the market is now selling and converting V205 into ferrovanadium is at a discount on the V205 price. So the more we sell into the high market, on the high-purity market that goes for a premium that makes all the sense.

So we’re going to improve our investments and capacity in the V2O3 plant as well on the powder V205 in order to gain and increase our sales mix on those 2 products. So those are the main elements that we’re thinking. I don’t see — even with the head count that we are producing today in the contractor side, I don’t see any danger or any major negative effect by those reductions because what they were doing is going back to the head count we had a couple of years alone, an increase because of the construction of the ilmenite plant and the crushing system. So now that most of those projects are being finished, makes all the sense in the world to go back to the head count we had in the past.

Operator: We have no further questions. I will turn the call back over to Alex Guthrie for closing remarks.

Alex Guthrie: Thank you, operator, and thanks, everyone, for joining the call today. This concludes the Q&A session and the quarterly investor conference call. Have a great day.

Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating, and we ask that you please disconnect your lines.