Orocobre (ASX:ORE) announces record production at Olaroz facilityCraig Foley
Orocobre (ASX:ORE) has announced record first quarter production of 3,093 tonnes at its Olaroz lithium facility. The result is 35 per cent higher than the year earlier period.
The strong outcome came on the back of a strategy of managing brine quality, new pond preparation and tailoring production to seasonal conditions.
Quarterly sales revenue at Olaroz went the other way, declining 21 per cent on a quarter on quarter basis to US$22.1 million.
Orocobre expects that full-year production for FY20 will be at least 5 per cent higher than FY19.
Shares in Orocobre (ASX:ORE) are trading 5.06 per cent lower at $2.25.
Copyright 2019 – Finance News Network
Source: Finance News Network