ORL heading the right way... I think I'm the only one in this one other than yourself.....
Orocobre* (ORL : TSX : $2.34), Net Change: 0.18, % Change: 8.33%, Volume: 7,950
Positive decision. Junior lithium developer Orocobre, which looks to be next in line to production, confirmed Wednesday that
its project partner, Toyota Tsusho Corporation (TTC), has issued a press release in which it has announced an internal
investment decision to acquire a 25% stake in the Olaroz lithium-potash project in Argentina. TTC also advised that the project
finance will be provided by Mizuho Corporate Bank and the debt guarantees provided by Japan Oil, Gas and Metals National
Corporation (JOGMEC) with a debt to equity ratio of approximately 70%, an increase from the 60% previously indicated by
Orocobre. TTC's press release also indicated an expected production rate of 17,500 tpa of lithium carbonate, an increase from
16,400 tpa in the Feasibility Study. The final project ownership will be Orocobre 66.5%, TTC 25% and JEMSE 8.5%.
Management at Orocobre noted that the agreements with TTC are at an advanced stage and should be completed within two
weeks, at which point Orocobre will be in a position to provide comprehensive details of the arrangements with TTC, structure
of the debt package and an overall project update. |
