Largo Inc. (LGO) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to Largo's second quarter 2026 earnings call. This conference is being recorded and the replay will be available at the company's website at largolinc.com. We would like to inform that all attendees will be listening only mode on the conference during the presentation. Questions must be submitted in writing using the Q&A function on the webcast platform. A company will be reviewing the questions received and select a number for management to address. Thank you very much. and MJ&A. Presenting this conference, we have Mr. Alberto Arias, Executive Chairman and Co-Chief Executive Officer, and Mr. Jim Ballantyne, Co-Chief Executive Officer. Now, I will turn the conference over to Mr. Arias and Mr. Ballantyne. Please, you may begin your conference. Thank you and good afternoon, everyone, and thank you for joining us today. The second quarter show us the work underway across Largo is gaining real momentum. We produced more, sold more, grew revenue, and returned to positive adjusted EBITDA. Just as importantly, the progress we made since the quarter end across our balance sheet, our U.S. commercial position, and our copper PGM initiative has strengthened the business and broadened the opportunities ahead. Let's start with our second quarter operating results. All availability improved during the quarter. Total ore mine increased 46.6% year over year to 712,198 tons, reflecting better mine access and continued improvement in execution. The better ore availability together with improved plant stability helped lift vanadium production 28.5% to 2,900 tons, near the upper end of our quarterly guidance range. For the first half of the year, production reached 5,516 tons at 55.2% from the same period last year. Importantly, our commercial...