checkAd

Orocobre Limited Reports H1 FY21 Results

Nachrichtenquelle: globenewswire
26.02.2021, 04:04  |  871   |   |   

BRISBANE, Australia, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Orocobre Limited (ASX: ORE, TSX: ORL) (Orocobre or the Company), a dynamic global lithium chemicals producer, provides its financial results for the half year ended 31 December 2020 (H1 FY21).

Highlights:

  • The lithium market has rebounded and Orocobre prices for H2 FY21 are expected to increase >50% to approximately US$5,500/tonne
  • A successful cost reduction program has seen quarterly cash cost of sales reduce by 28% since September 2019
  • Brine concentrations are higher and more stable than previous years delivering higher plant recovery, better quality and more consistent product
  • Successful capital raise of US$119.4 million, net of fees
  • Statutory consolidated group net loss of US$29.1 million for H1 FY21 is down from a loss of US$18.9 million in the previous corresponding period (PCP). The underlying net loss after tax1 for the group is US$27.3 million with adjustments for restructuring costs, impairment, foreign exchange and other one-off items
  • Attributable group EBITDAIX1 is negative US$6.3 million, down from positive US$2.2 million, due to weak market prices
  • Total production of 6,079 tonnes of lithium carbonate, down 9% on pcp due to COVID-19 related operational restrictions and market demand
  • Olaroz Lithium Facility results impacted by a weak September quarter, but conditions are improving:
    • revenue of US$27 million, on sales of 7,738 tonnes of lithium carbonate (up 21% on pcp)
    • EBITDAIX1 loss of US$3.9 million, down from US $6.1 million profit due to average sales price
    • Average sales price received of US$3,492/tonne FOB2, down from US$6,157/tonne FOB2 in PCP
  • As of 31 December 2020, Orocobre Group (corporate + 100% SDJ PTE + Borax) had cash of US$262.3 million following the capital raise
  • Contract position has improved significantly
  • Progress is being made with the construction of the Stage 2 Expansion of the Olaroz Lithium Facility and Naraha Lithium Hydroxide Plant

Orocobre Managing Director and CEO, Mr Martín Pérez de Solay said, “Orocobre has continued to deliver improved operating performance despite COVID-19 disruptions. Our business was impacted in the September quarter by weak market conditions, however the market has improved since the start of the December quarter.

Seite 1 von 3
Orocobre Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



Diesen Artikel teilen
Wertpapier



0 Kommentare

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Orocobre Limited Reports H1 FY21 Results BRISBANE, Australia, Feb. 26, 2021 (GLOBE NEWSWIRE) - Orocobre Limited (ASX: ORE, TSX: ORL) (Orocobre or the Company), a dynamic global lithium chemicals producer, provides its financial results for the half year ended 31 December 2020 (H1 FY21). …

Community

Nachrichten des Autors

Titel
Titel
Titel
Titel