Ann: Orocobre Limited - Investor Presentation November 2018, page-15

Butch - by all means cheerlead as much as you want, and I hope you are right and I am wrong. It is just that I am annoyed at myself for giving Richard Seville the benefit of the doubt so many times in the last 3 or 4 years, Maybe, hopefully, he'll prove me wrong in the last few days of his reign. There is a saying that the difference between a wise man and a fool is often not the decision but the timing of the decision. That it took me so long to work out that Richard Seville was having a lend marks me as a fool.

An example is that he was able to get away for so long with not owning up to there being insufficient ponds for stage one. From memory towards the end of 2016 there were growing concerns about this so much so that the company got some Chilean outfit to do a report on it. Probably not surprisingly the report supported the company's assertion that they had not stuffed up regarding the ponds. And now, almost two years later, after a disastrous September quarter production effort, there is implicit acceptance: they built insufficient ponds to service stage one. Anyway, as I said before, I'd love to be wrong and that the company does deliver what they appear to be promising.