Monday, April 18, 2016

Orocobre announces new production record

Link:

Production ramp up continues with production of 2,332 tonnes of lithium carbonate during the quarter versus a target of ~2,400 tonnes (97% achieved). This is an increase of 1,224 tonnes over the previous quarter. Operating cash cost breakeven was achieved, and debottlenecking program completed, in January.

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Q2 lithium carbonate price expected to be over US$7,500/tonne FOB1 with further increases expected as we move further into CY2016. 

This is the newest lithium production facility in the world. The company continues to increase production while the price of lithium continues higher. I am up almost 100% since I bought this stock. When I get a 100% gain I will take half off the table and recoup my original investment and then I will let the remaining shares ride with a trailing stop loss. 

I believe this is the prudent thing to do as these are commodity stocks and we can never know when a problem or some unforeseen event will lead to price decline in the stock. A 100% gain is nothing to sneeze at and a profit only exists when you sell. I have been burned too many time before by not taking a profit. 

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