Ann: Orocobre Limited - Olaroz Stage 2 Expansion FID Approved, page-39

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mojohand

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18/03/19

18:40

Post #: 37801691
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Originally posted by triage ↑

Once again we are seeing this company totally destroy timelines for developing the Olaroz facility.

Prior to them announcing that they had FIDed stage 2 of the Olaroz project they had run the line that they could not FID Olaroz Stage 2 without also FIDing the LiOH plant in Japan. For some unexplained reason however they changed that line with the FID announcement for Olaroz Stage 2; they did so without the FID (final investment decision) for the LiOH plant being made.

In an update on 28 Nov 18 they stated that "EPC [engineering, procurement and construction] contract is expected to be finalised during this [the 3 months to the end of December 2018] quarter … commissioning of stage 2 at Olaroz and the Naraha lithium hydroxide plant are expected to occur during 2HCY2020".

Then in the December 2018 quarterly issued on 17 January they pretty much cut and pasted the same advice except of course the current quarter was now the one to the end of March 2019. And here we are towards the end of March 2019 and surprise, surprise still no announcement about the LiOH plant.

Seeing almost 4 months have now elapsed since the FID for stage 2 Olaroz was announced and still with no progress whatsoever on the LiOH plant getting the go-ahead I reckon it will now be in the second half of calendar 2021 at the earliest before Olaroz increases its production rate. Yet another year lost (that must mean that stage 2 is at least 3 years behind schedule - imagine if we were in a difficult sector)

I have reached the stage that I get a certain masochistic pleasure in seeing this bunch getting totally screwed over by the shorters, even though it is my time and money that is being lost. Watching Orocobre is like watching an endless loop of the Keystone Cops.... imo.

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Watching Orocobre is like watching an endless loop of the Keystone Cops.... imo.

Spend some time on the FAR threads and you may very well end up with a renewed appreciation for ORE management....

ORE Price at posting: $3.34 Sentiment: None Disclosure: Held
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Ann: Orocobre Limited - Olaroz Stage 2 Expansion FID Approved, page-39

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