Inactive Instrument

Allkem

Equities

AKE

AU0000193666

Orocobre Limited Announces Operating and Sales Results for the Quarter Ended March 2020; Withdraws Production Guidance for the Full Year 2020

April 22, 2020 at 05:31 am

Orocobre Limited announced operating and sales results for the quarter ended March 2020. Production for the quarter was 2,732 tonnes up from 3,075 tonnes on PCP.

For the quarter, the company announced Product sales were 2,518 tonnes of lithium carbonate with an average price of USD 4,810/tonne on an FOB basis and total sales revenue of USD 12.1 million. The average price received during the quarter was down 11% QoQ.

The company has withdrawn full-year production guidance for full year 2020 due to current restrictions with production in Argentina and the high likelihood of ongoing disruption of future demand in global markets.

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Company Profile

Allkem Limited is a specialty lithium chemicals company with a global portfolio of lithium chemicals. The Company is principally engaged in mineral extraction, production, and chemical processing. The Company's segments include Olaroz, Mt Cattlin, James Bay, Sal De Vida projects, and Corporate. Its flagship Olaroz brine-based lithium facility is based in Northern Argentina and supplies lithium chemicals across the globe. The Mt Cattlin spodumene project (Mt Cattlin) produces spodumene concentrate utilizing conventional techniques to extract and process the resource. This wholly owned project is located two kilometers (km) north of the town of Ravensthorpe in Western Australia. The James Bay Project is located in northern Quebec, approximately 130 km east of James Bay and the Cree Nation of Eastmain community. Sal De Vida project is a tier one brine project, which is located in Catamarca Province on the Salar del Hombre Muerto. Its other project includes Cauchari mineral resource.

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