Brisbane, Australia (ABN Newswire) -
Orocobre Ltd. (ASX:ORE) (TSE:ORL) Response to ASX Price Query.
Orocobre Ltd. (the Company) - ASX Price Query
I refer to your correspondence of today's date.
In relation to the questions you seek a response to, the Company advises as follows:
1. The Company is not aware of any information concerning it that has not been announced to the market that could explain the recent trading in the market.
2. Not Applicable.
3. The Company does not have any other explanation for the recent trading in its securities other than to note that:
(a) at the recently concluded 2015 United Nations Climate Conference, 195 countries entered into "The Paris Agreement" pursuant to which a target of limiting future global warming increases to less than 2 degrees was set. To achieve this goal greenhouse gas emissions will need to be substantially reduced and the use of renewable energy resources substantially increased. The use of rechargeable batteries in both transport and energy storage, where lithium ion batteries are the predominant technology, can be expected to increase significantly to meet this demand; and
(b) in contrast with the majority of commodities, the price for Lithium Carbonate has continued to increase with recent market prices in excess of US$10,000 per tonne being reported in China. The current limited opportunities for new and existing producers to increase supply to the market in the near term has also led to concerns of supply shortages.
4. The Company confirms that it is in compliance with the Listing Rules and in particular Listing Rule 3.1.
To view the complete ASX Price Query release, please visit:
http://media.abnnewswire.net/media/en/docs/81854-ASX-ORE-897928.pdf
About Orocobre Limited:
Orocobre Ltd. is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina.
The Company has built, in partnership with Toyota Tsusho Corporation and JEMSE, the first large-scale, greenfield brine based lithium project in 20 years at the Salar de Olaroz with planned production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate.
Contact:
Rick Anthon Joint Company Secretary
Email: ranthon@orococbre.com
Orocobre Ltd.
T: +61 7 3871 3985
E: mail@orocobre.com
www.orocobre.com.au
