Largo, Inc. (NASDAQ:LGO) Q3 2023 Earnings Conference Call November 9, 2023 1:00 PM ET
Company Participants
Alex Guthrie - Senior Manager, External Relations
Daniel Tellechea - Interim Chief Executive Officer and Director
Ernest Cleave - Chief Financial Officer
Paul Vollant - Chief Commercial Officer
Francesco D’Alessio - President of Largo Clean Energy
Conference Call Participants
Andrew Wong - RBC
Steve Silver - Argus Research
Michael Heim - Noble Capital Markets
Operator
Good day, and thank you for standing by. Welcome to Largo's Third Quarter 2023 Financial Results Conference Call. After the speaker's presentation, there will be a question-and-answer session. 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. Thank you for attending Largo's Third Quarter Financial Results Conference Call. Largo's Q3 financial statements, related MD&A and most recent AF can be accessed on our website at largoinc.com as well as on SEDAR and EDGAR.
Before continuing the call, I would like to remind you 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.
On the call today is Daniel Tellechea, Largo's Interim Chief Executive Officer and Director; Ernest Cleave, Largo's Chief Financial Officer; Paul Vollant, Largo's Chief Commercial Officer; and Francesco D’Alessio, the President of Largo Clean Energy.
Following delivery of the prepared remarks, we'll open the call for questions. [Operator Instructions].
So with that, let me turn the call over to Daniel.
Daniel Tellechea
Thank you, Alex, and good day to those joining us for our quarterly update call. I want to begin by acknowledging that Q3 was another challenging quarter for Largo. We faced some unforeseen cos that impacted our operations, and I would like to provide you with an update on these events and how we are moving forward.
For Q3, P205 equivalent production was 2,163 tonnes, which is a decrease from the 2,639 tonnes produced in Q2 2023, and the 2,906 tonnes produced in Q3 2022. For the 9 months ended September 30, 2023, V2O5 production was 6,913 tonnes versus 8,432 tonnes for the same period in 2022.
In July, we were deeply serve by a traffic tragic accident at our chemical plant which resulted in a capacity bottleneck in the evaporator section. These unfortunate incidents had to lower vanadium production furnaces in July and August.