Brisbane, Australia (ABN Newswire) -
Orocobre Ltd. (ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF) Quarterly Report of Operations, Activities and Cashflow Report For The Period Ended 31 December 2015
Highlights
Olaroz Lithium Facility
- Production ramp up continues with production of 1,108 tonnes of lithium carbonate during the quarter. This is an increase of 616 tonnes over the previous quarter. All reported lithium carbonate tonnes produced are saleable tonnes.
- Production rate of 20 tonnes per day achieved towards the end of December.
- January production on track to meet forecast of 600-650 tonnes forecast for the month.
- All "de-bottlenecking" projects expected to be completed by the end of January 2016 permitting the plant to enter the final stage of ramp up.
- Lithium carbonate prices are now increasing to over US$6,000/tonne with further increases expected into CY2016 and beyond as lithium market conditions continue to tighten.
- First battery market customers to be supplied with commercial quantities in Q1 with deliveries scheduled to commence in February.
- MOU signed with Bateman Advanced Technologies (BAT) to evaluate the BAT LiSXTM process.
- Competitiveness improved by devaluation of the AR$ and removal of export duties on lithium carbonate.
Borax Argentina
- Sales volume in the quarter was 10,078 tonnes which is an increase of 1,954 tonnes on the previous quarter and an increase of 1,333 tonnes on the same quarter last year (8,745 tonnes) on a comparable basis excluding sales of low value tincal ore.
- Focus remains on the product and market diversification strategy and production optimisation projects.
- Competitiveness improved by devaluation of the AR$ and removal of export duties on refined borax products.
Corporate
- Argentine Government policy changes that directly benefit the Company include removal of the "dollar clamp", floating of the Argentine peso, elimination of export duties and removal of controls on importation of goods.
- The Annual General Meeting was held on 6 November with all resolutions passed.
To view the full quarterly, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-902828.pdf
To view the Investor Update Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-902821.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:
Orocobre Ltd.
David Hall Business, Development Manager
M: + 61 407 845 052
E: dhall@orocobre.com
James Calaway, Chairman
M: + 1 (713) 818 1457
E: jcalaway@orocobre.com
