Lithium pricing update and quarterly report date
July 09, 2021 01:21 ET | Source: Orocobre Limited Orocobre Limited
(ASX: ORE, TSX: ORL)
(“Orocobre” or “the Company”) advises that production for the June 2021 quarter was 3,300 tonnes of lithium carbonate. Approximately 66% of production was battery grade lithium carbonate which is a significant increase on the June 2020 quarter that was 21% battery grade lithium carbonate.
Sales of Olaroz lithium carbonate during the June 2021 quarter were 2,549 tonnes at US$8,476/tonne FOB
1, with pricing up 45% on the March 2021 quarter. Lithium prices received by Olaroz are now up more than 170% in the last nine months.
Inventory has increased during the June quarter due to COVID-19 related transport delays and the requirement to hold additional safety stock in Japan to guarantee delivery into the Prime Planet Energy and Solutions (PPES) contract.
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(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 (