Orocobre Limited Positive Results from PFS for Boric Acid Plant

FSC / Press Release  Orocobre Limited Positive Results from PFS for Boric Acid Plant  Brisbane, Australia, April 09, 2014 /FSC/ - Orocobre Limited (ORL - TSX, ORE - ASX),is pleased to announce the results of a Pre-Feasibility Study ("PFS") on the development of a 25,000 tpa boric acid plant at Olacapato in NW Argentina ("Olacapato Project").  Positive Results from Pre-Feasibility Study for 25,000 tpa Boric Acid Plant at Olacapato  Key Findings:  -***-  ------------------------------------------------ Production Rate         25,000 tpa Boric Acid Capital Cost            US$ 18.2 million plus  $2.6m in working capital  and commissioning costs. ------------------------------------------------ Payback                 4.9 years ------------------------------------------------ Cash Operating Cost at 25,000tpa             484 US$/ton ------------------------------------------------ After Tax NPV (10%)      $18.1 million ------------------------------------------------ After Tax IRR%           24% ------------------------------------------------ Modelled Project Life    20 years ------------------------------------------------ Measured and Indicated Resources               1.02 Million tonnes B2O3 ------------------------------------------------  -****-  The Project has strong fundamentals with a healthy after tax internal rate of return of 24% based on modeled project life of 20 years underpinned by a resource base of 1.02 million tonnes B2O3.  The engineering design and cost estimates for the preliminary Feasibility Study was undertaken by Borax Argentina staff and consultants in conjunction with CP/QP Consulting Processing Engineer, Peter Ehren. The resource estimate and geological aspects were undertaken by CP/QP Consulting Geologist, Murray Brooker.  Richard Seville Managing Director and Chief Executive Officer of Orocobre Ltd said:  "We are very pleased to announce the positive results of our PFS." Mr. Seville said. "The project has a modest capital requirement and an attractive IRR and we will advance the project now to the Definitive Feasibility Study stage and permitting. Although not material in itself, this project is part of a range of initiatives and projects in each of the product streams which are rejuvenating Borax Argentina and will establish it as a major and profitable regional player."  To view the complete release including Forward Looking Statements, Technical Information, Competent Persons' and Qualified Persons Statements with diagrams and charts, please visit: http://media.abnnewswire.net/media/en/docs/ASX-ORE-792396.pdf  About Orocobre Limited  Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE, TSX:ORL), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina. The Company is building in partnership with Toyota Tsusho Corporation the first large-scale, "greenfield" brine based lithium project in 20 years at its flagship Salar de Olaroz resource, with projected production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate scheduled to commence at the end of Q2, 2014. The Company also wholly-owns Borax Argentina, an important regional borate producer. Orocobre is included in the S&P/ASX 300 Index and was named 2012 Mining Company of the Year by Argentine mining magazine Panorama Minero and the Fundacion para el Desarrollo de la Mineria Argentina ("Fundamin" or Foundation for Development of Argentina Mining).  Contact:  Australia and Asia David Hall Business Development Manager Orocobre Limited T: +61 7 3871 3985 M: +61 407 845 052 E: dhall@orocobre.com  North America James Calaway Chairman Orocobre Limited M: +1 (713) 818 1457 E: jcalaway@orocobre.com  To view the press release as a PDF, please click on the following link: http://www.fscwire.com/sites/default/files/news_release_pdf/orocobre04092014.pdf  Maximum News Dissemination by FSCwire. http://www.fscwire.com  Provider ID: 00023218 -0- Apr/10/2014  2:20 GMT    
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