(ASX: ORE, TSX: ORL)
(Orocobre or the Company), a dynamic global lithium chemicals producer, provides its financial results for the half year ended 31 December 2020 (H1 FY21).
Highlights:
The lithium market has rebounded and Orocobre prices for H2 FY21 are expected to increase >50% to approximately US$5,500/tonne
A successful cost reduction program has seen quarterly cash cost of sales reduce by 28% since September 2019
Brine concentrations are higher and more stable than previous years delivering higher plant recovery, better quality and more consistent product
Successful capital raise of US$119.4 million, net of fees
Statutory consolidated group net loss of US$29.1 million for H1 FY21 is down from a loss of US$18.9 million in the previous corresponding period (
(ASX: ORE, TSX: ORL)
(“Orocobre” or “the Company”) advises that following an earthquake late Saturday (13 February 2021, JST) off the coast of Fukushima Prefecture, north east Japan, there are no injuries to employees at the Naraha Lithium Hydroxide Plant.
An initial inspection of the plant with the construction contractor, Veolia Jenets on the morning of 14 February found some minor damage to the site office but did not find any visible defects to plant equipment. Additionally, there is no damage to site infrastructure services.
A further inspection will be undertaken on 15 February to confirm the initial observations and assure the safety of the site prior to the recommencement of construction work.