Largo Inc (LGO) Financings
TSX: LGO · Vanadium, Tungsten · Production stage
- Market cap$70.2M
- Share price$0.610
- 52-week range$0.570 – $2.61
- Shares outstanding115,135,537
- ExchangeTSX
- Websitelargoinc.com
Largo is the world's largest primary vanadium producer and a globally recognized supplier of high-quality vanadium products, sourced from its world-class Maracas Menchen Mine in Brazil. As the world's largest primary vanadium producer, Largo produces critical materials that empower global industries, including steel, aerospace, defense, chemical, and energy storage sectors. The Company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers. Largo is also strategically invested in the clean energy storage sector through its 37.4% ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the U.S. The Company also holds a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada, and 100% interest in the Currais Novos Tungsten Tailing Project near Natal, Brazil. Preliminary economic assessments were completed for each asset in 2011. Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol 'LGO'. For more information on the Company, please visit www.largoinc.com.
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Largo Inc financial statements
Key figures read from 40 of 40 financial statement filings, Nov 14, 2016 to Aug 14, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$9,716 | US$22,106 | US$42,714 | US$54,471 | US$83,790 |
| Total current assets | US$78,050 | US$93,287 | US$137,123 | US$154,144 | US$159,978 |
| Total current liabilities | US$153,933 | US$114,259 | US$42,455 | US$38,973 | US$41,668 |
| Working capital | (US$75,883) | (US$20,972) | US$94,668 | US$115,171 | US$118,310 |
| Property, plant and equipment | US$191,867 | US$170,756 | US$212,176 | US$175,237 | US$146,659 |
| Total assets | US$318,755 | US$318,668 | US$381,621 | US$355,750 | US$313,909 |
| Debt | US$107,066 | US$92,280 | US$75,000 | US$40,000 | US$15,000 |
| Total liabilities | US$182,219 | US$147,440 | US$125,822 | US$81,196 | US$48,212 |
| Shareholders' equity | US$136,536 | US$171,228 | US$255,799 | US$274,554 | US$265,697 |
Income statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Revenue | US$109,887 | US$124,920 | US$198,684 | US$229,251 | US$198,280 |
| Exploration and evaluation expense | (US$216) | (US$2,328) | (US$5,705) | (US$1,935) | (US$2,093) |
| General and administrative | (US$20,806) | (US$21,733) | (US$34,860) | (US$39,596) | (US$24,326) |
| Share-based compensation | (US$2,289) | (US$1,321) | US$362 | (US$2,372) | (US$3,135) |
| Impairments and write-downs | US$294 | (US$1,119) | (US$4,862) | — | — |
| Net income (loss) | (US$68,738) | (US$50,565) | (US$32,358) | (US$2,226) | US$22,571 |
Cash flow statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$10,222) | US$11,159 | US$21,197 | US$3,460 | US$39,777 |
| Investing cash flow | (US$26,440) | (US$42,226) | (US$62,885) | (US$60,147) | (US$27,399) |
| Financing cash flow | US$23,894 | US$12,044 | US$29,127 | US$26,435 | (US$6,902) |
| Property, plant and equipment spending | (US$27,440) | (US$42,226) | (US$53,546) | (US$42,193) | (US$27,399) |
| Change in cash | (US$12,390) | (US$20,608) | (US$11,757) | (US$29,319) | US$4,645 |
| Cash at end of period | US$9,716 | US$22,106 | US$42,714 | US$54,471 | US$83,790 |
Largo Inc financings
4 financings announced or closed by Largo Inc, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-09-25 | Largo Inc (LGO) | Private placement, brokered | Closed, 1 tranche | US$5.7M | — | Largo Announces Pricing of US$5.7 Million Registered Direct Offering |
| 2026-01-08 | Largo Inc (LGO) | Private placement, brokered | Announced | US$60.0M | — | Largo Announces US$60 Million At-The- Market Equity Offering Program |
| 2025-10-22 | Largo Inc (LGO) | Private placement | Closed, 1 tranche | US$17.4M | $1.22 | Largo Announces Closing of US$23.4 Registered Direct Offering and Private Placement |
| 2025-08-11 | Largo Inc (LGO) | Debt | Announced | US$6.0M | — | Largo Announces Copper Mineralization Studies Across its Maracás Menchen Vanadium Deposits; Extends US$6 Million Secured Loan |
Largo Inc debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Largo Inc has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2026-08-21 | Loan, amended | — | US$82.2M | matures 2030-03 |
| 2026-08-20 | Loan, amended | — | US$82M | — |
| 2025-08-11 | Loan, amended | ARG International AG | US$6M | matures 2027-02 |
| 2021-02-08 | Credit facility, repaid / settled | — | C$24.8M | matures 2021-03-18 |
| 2018-05-22 | Notes / bonds, closed / funded | — | US$150M | 9.25%, matures 2021 |
| 2017-07-24 | Credit facility, repaid / settled | Banco Pine S.A | C$89.13M | 12% |
| 2017-04-12 | Loan, signed | — | US$2M | 5.7%, matures 2017 |
| 2016-11-16 | Credit facility, proposed | Brazilian Development Bank | — | 5.7%, matures 2017 |
| 2016-01-14 | Loan, closed / funded | Mark Smith | US$1M | 12% |
| 2015-03-13 | Convertible note / loan, closed / funded | ARC Fund | C$3M | 20% |
| 2014-08-07 | Credit facility, amended | — | US$19.4M | 0.23%, matures 2015-12 |
| 2012-07-18 | Credit facility, closed / funded | — | — | 7.61% |