Ann: Victory Bore Vanadium Project Propelled to World Class Statu, page-61

A major TSX listed vanadium producer Largo has recently announced is CY'22 results with some interesting observations extracted and recorded below. (TSX:LGO)

During 2022, the company recognized revenues of $229.3 million from sales of 11,091 tonnes of V2O5 equivalent (2021 – 11,393 tonnes). This represents a 16% increase in revenues over 2021 ($198.3 million) mainly due to higher vanadium prices in the year, particularly with revenues recognized in Q2 2022, it said.

"Although we continue to navigate an inflationary environment, we anticipate delivering and capitalizing on a 10% increase in production for 2023 over 2022, particularly with the recent strengthening of vanadium prices."

In a press release, Largo noted an increased vanadium demand from the energy storage sector, especially in China, where new vanadium redox flow battery deployments totaling around 2 GWh or approximately 10% of global vanadium output are planned for the next 12-24 months.
"Other key markets including steel, aerospace, and chemical have also shown considerable demand growth in recent months," it said.