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22/03/19

19:24

Post #: 37857654
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Originally posted by niu: ↑

Toyota Tsusho TTC is public company listed on the Tokyo stock exchange and part of the Toyota Group.
Toyota Motor Corporation TMC is a significant shareholder.
Toyota Motor Corporation is an important customer of our group and one of the important suppliers. It is also the largest shareholder holding approximately 21.6% of the issued shares of the Company, and the Company is one of the affiliates of Toyota Motor Corporation.The relationship with TMC is "arms length".

Even if that was not the case, there are a couple of key steps between lithium carbonate and the battery pack in a car - cathode production and production of the cell itself. Two steps in which Toyota has no presence.

The ORE/TTC lithium customer base is diverse - while some ORE lithium probably finds its way in to Toyota cars it will be just a small percentage of the total output. Of more significance is the general Japanese support (think low cost finance, JOGMEC guarantees, Naraha subsidies) and access to the Japanese market. No doubt that when the market gets tight, Japan Inc will have first dibs on the Olaroz output but TTC's best interest will always be to get the highest price.

And to keep things transparent...
As previously advised (see ASX Release dated 28 November 2018) Orocobre and TTC agreed on a newjoint marketing arrangement for production from both Stage 1 and 2 where the joint partners willwork together to set the strategic direction of customer arrangements and commercial terms. Asexclusive sales agent, TTC remains responsible for logistical and contractual arrangements withcustomers and execution of the agreed sales strategy.

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I always wonder, if TTC as exclusive sales agent really acts in favour of ore-stakeholders.
High lithium prices are surely not the interest of TTC.

ORE Price at posting: $3.48 Sentiment: Hold Disclosure: Held
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Japan Inc, page-7

Top Stories

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

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