Tuesday, February 9, 2016

Orocobre achieves break even levels of lithium production


-Production of 699 tonnes of lithium carbonate was achieved in January, an increase of 272 tonnes over December and above guidance.
-The “de-bottlenecking” programme commenced mid last year was completed.
-Cash operating cost breakeven achieved
 -Production for the March Quarter is forecast to be approximately 2,400 tonnes

The debottlenecking looks like it achieved its goals as production exceeded expectations. Now the focus will be on continuing improvement in production over the upcoming months.

Managing Director, Richard Seville, said, “With the debottlenecking programme materially complete, we look forward to concentrating on optimisation activities to continually improve performance month by month. We are greatly encouraged by the rapidly growing lithium market and most importantly the support shown by our customers which we sincerely appreciate. We now set our sights on the achievement of the nameplate production rate, forecast for September 2016.”

This also in the context of a continuing shortage of lithium in the market so things are looking good for Orocobre's stock price. It looks like it is ready to go on a run.

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