Largo Resources

Largo Resources reported a 68.5% revenue increase to $44.0m in Q2 2026 and a positive adjusted EBITDA of $2.7m, but missed analysts’ expectations by reporting a loss of $0.21 per share versus the expected +$0.05. The company significantly raised vanadium production and sales, began commercial production of copper‑PGM concentrate, and extended bank debt of roughly $82.2m to March 2030 to ease short‑term refinancing pressure. Despite operational progress, the balance sheet remains pressured by high indebtedness, a negative gross margin and limited liquidity; the stock fell sharply after hours but later partially recovered. » More on de.investing.com

Largo’s stock fell about 43.9% on Wednesday after the company announced a dilutive financing package totaling $23.4 million, consisting of the sale of 14.26 million common shares at $1.22 per share and accompanying warrants for a further 14.26 million shares. Largest shareholder Arias Resource Capital Fund III is participating with a $6 million private placement and may optionally provide a secured $5 million convertible bridge loan. Proceeds are intended to secure working capital through 2026 and to cover liabilities in Brazil as well as payments to mining partners and suppliers; H.C. Wainwright is acting as sole placement agent and the closing is subject to TSX approval. » More on de.investing.com