Ann: Olaroz lithium facility update, page-43

I just listened to the audio conference recording (available on their website, about 16 minutes long).  To me, Seville sounded the same as he always does, somewhat neutral in his tone.  I found it reassuring in many ways, the negative he pointed out was market uncertainty in pricing.    

I took a few notes, I'll summarise but pls don't go off what I wrote down, listen to it for yourselves if you can:

Regarding the 1000 tonnes in inventory, it is split about half between what is in transit for shipping (confirmed orders but not invoiced) to what they are holding in inventory.  They have a deliberate policy based on what they have learned to build up some inventory.

They said a couple of times that January will be a big month for sales.

They have increased the depth of the ponds so that they are better reservoirs so that any dilution from rain will be less.  They have been conservative about their forward policy on production.  (By which I took it to mean that if pricing is going down, they are not going to ramp up production because they are in a lower price environment and can afford to hold back).  When asked about their outlook on contracts and pricing, they said they were in negotiations currently and would not comment (a fair answer).

Seville referred to the price fall as short term volatility in a strongly growing demand profile.  Their production is solidly lifting.  The weather currently is better than average.Their breakdown of sales is 70% on 12 month contract, 10% on 9 month and 20% on 6 month or less.