Largo Inc. (NASDAQ:LGO) Q4 2022 Results Conference Call March 10, 2023 1:00 PM ET

Company Participants

Alex Guthrie - Senior Manager of External Relations

Daniel Tellechea - Interim CEO and Director

Ernest Cleave - CFO

Paul Vollant - VP of Commercial

Conference Call Participants

Andrew Wong - RBC Capital Markets

Heiko Ihle - H.C. Wainright

Gordon Lawson - Paradigm Capital

Carlos De Alba - Morgan Stanley

Steve Silver - Argus Research

James Young - Midwest Investments

Operator

Good day, and thank you for standing by. Welcome to Largo's Fourth Quarter and Full Year 2022 Webcast and Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there’ll be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Alex Guthrie, Senior Manager of External Relations. Please go ahead.

Alex Guthrie

Good morning, everyone, and thanks for joining our fourth quarter and annual 2022 earnings conference call and webcast. On the call today is Daniel Tellechea, Largo's Interim CEO and Director; Ernest Cleave, Largo's Chief Financial Officer; and Paul Vollant, Largo's VP of Commercial.

To accompany the call today, we've uploaded a supplemental webcast presentation, which is available on our website at largoinc.com. Our annual 2022 financial statements related MD&A and most recent AF are also available on the website as well as on SEDAR and EDGAR. Before continuing the call, I would like to remind you all that some of the information you will hear during today's discussion will consist of forward-looking statements, including, without limitation, those regarding future business outlook.

Please refer to Slide two for a full description of the company's cautionary notes. The agenda for our call today is as follows. Daniel will provide an update on the company's Q4 and year-end progress with an outlook for the year ahead, followed by Ernest who will provide an overview of our fourth quarter and annual financial results, and Paul will close the call with an update on the Company's Sales and Trading progress the vanadium market and an update on Largo Physical Vanadium.

Following these updates, we will then open the call for questions. [Operator Instructions]. So, with that, I'll now turn the call over to Daniel.

Daniel Tellechea

Thank you, Alex, and good morning, and good afternoon for those here in Toronto and elsewhere across the globe. As you know, we're going to be discussing our fourth quarter and year 2022 results today. Let me start with Slide number five. 2022 was a challenging 12-months for us and it led to an underperformance on both production and cosmetics. In Q4 we produced just over 2,000 metric tonnes of V205 at a cash cost excluding royalties of $5.15 per pound. As we noted previously in our pre-reported operational update in January, Q4 production was heavily affected by abnormally high rainfall in December, which flooded the beat and made it difficult to access for ore.