TSX Lifts Delisting Review, Largo Shares to Continue Trading
LGO sits 36% above its 52-week low of $0.55 on light trading volume (0.1× avg).
Summary
The Toronto Stock Exchange has lifted its remedial delisting review of Largo, removing a major overhang. The company's shares will continue trading on the TSX under LGO. This follows the August 20 binding term sheet to restructure $82.2M of subsidiary debt, which management credits for the improved outlook. The resolution removes a key regulatory risk, though the Nasdaq sub-$1.00 deficiency notice from July 10 remains unresolved. Watch for progress on the Nasdaq compliance plan and the debt restructuring closing.
At the time of this announcement, LGO was trading at $0.75 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $77.4M. The 52-week trading range was $0.55 to $2.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.