Sales de Jujuy S.A. has received no shareholder loans for over 12 months and is strongly cash flow positive. The ongoing accumulation of cash by Sales de Jujuy S.A. will facilitate the release back to Orocobre of the first Standyby Letters of Credit and associated security deposits, which are the guarantees for the working capital facilities at Sales de Jujuy S.A., within the next two months. The market will be advised as such releases of funds back to Orocobre commences.
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina.
The Company has built, in partnership with Toyota Tsusho Corporation and JEMSE, the first large-scale, greenfield brine based lithium project in 20 years at the Salar de Olaroz with planned production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate.
Investor Relations Manager
Orocobre Limited (ASX:ORE) (TSE:ORL) Reports First Half Net Profit after Tax of US$7.4M on Record Sales Revenue and Production