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orocobre ltd (OROCF) Details

Orocobre Limited explores and develops lithium, potash, and salar mineral properties primarily in Argentina. Its flagship project includes the Salar de Olaroz lithium project that covers 63,000 hectares of tenements located in north-western province of Jujuy. The company is based in Milton, Australia.

orocobre ltd (OROCF) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: A$664.2K
Chief Financial Officer and Company Secretary
Total Annual Compensation: A$410.3K
Business Development Manager
Total Annual Compensation: A$312.9K
Compensation as of Fiscal Year 2014.

orocobre ltd (OROCF) Key Developments

Orocobre Limited - Special Call

To discuss the commissioning completion and production ramp-up of the Olaroz Lithium Plant as well as the recent $50 million capital raise

Orocobre Limited Reports Consolidated Earnings Results for the First Quarter Ended September 30, 2014; Provides Cash Outflows Guidance for the Second Quarter of Fiscal 2015

Orocobre Limited reported consolidated earnings results for the first quarter ended September 30, 2014. For the quarter, the company reported net operating cash outflows of AUD 1,974,000 and purchase of other fixed assets of AUD 582,000. Approximately 12,325 tonnes of combined products were sold during the quarter compared to the 10,103 tonnes for the same quarter year ago. Net operating cash flows was AUD 1,974,000 and payment for purchases of other fixed assets was AUD 582,000. For the second quarter of fiscal 2015, the company expected cash outflows for the purpose of exploration and evaluation will be AUD 140,000. Cash outflows for the purpose of production will be AUD 6,200,000. Capex will be AUD 200,000.

Orocobre Limited Announces Progress Regarding Quantification of Additional Lithium Brine Within the Olaroz Salar

Orocobre Limited advised progress regarding the quantification of additional lithium brine within the Olaroz salar that may contribute to additional expanded production at a lower brine supply development cost than the current phase 1 development. Deeper Lithium Brine Exploration Target: Geological Background: The 2011 resource estimate at Olaroz was based on relatively shallow drilling to a depth of approximately 200m. The drilling intersected an interbedded sequence of sand, silt, clay and halite layers, as described in detail in the NI43-101 compliant Technical Report document dated May 13 2011. The resource has an average free draining porosity of 10% and the sediments are generally relatively low permeability units resulting in a borefield design of production wells with average flow rates of approximately 10 l/s as set out in the aforementioned technical report. Geophysics (gravity surveying) conducted by Orocobre in 2009 suggested the Olaroz salar sediments extend to approximately 600 metres below surface. Electrical geophysics (a Magneto Telluric survey) and drilling by Lithium Americas Corporation to 450m depth on adjacent properties strongly suggested that brine continues below the base of the current Olaroz resource. Of particular interest, was the potential for sand units intersected below 200m in the narrow Cauchari basin to extend north into the much wider Olaroz basin. Taking into account these observations and the presence of sand beneath halite units at similar depths in the company's drilliong in Cauchari properties Orocobre has always considered the potential high for significant additional brine resources beneath those defined to date by the company. Borefield Development: The Olaroz project currently consists of two borefields with 200 metre deep bores with well screens over the majority of their lengths, to maximize brine inflows which extract brine from the current resource to 197m. The design of the borefields was to provide flow at 180l/s with two bores offline at any one time. These bores pump brine to a series of tanks where the flows are combined before being transferred to the evaporation ponds. In order to increase the peak flow rate to above 230l/s and to allow a faster build up of lithium brine stock, the company has drilled two additional bores, P301 and P302. Additionally, in order to test the exploration potential beneath the current resource, these bores were drilled to 304m and 323m respectively rather than the normal 200m. The first hole, P301 was designed to allow the installation of 8 inch internal casing and a 6 inch diameter pump as for previous bores, whilst the second hole, P302 was designed to allow the installation of 10 inch internal casing and higher flow 8 inch pump after the results of P301. Drilling Results and Significance: Hole P301 was drilled to a depth of 304 m below surface in April 2014, with an installed casing depth of 290m. This hole encountered the expected sequence from 0-200m and then intersected a sand unit from 255 m, with continuous sand from 275m to the end of the hole, confirming the extension of sandy units intersected in Cauchari into Olaroz. Because of the results of P301, P302 was designed to be drilled to a depth of 350m to further evaluate the sand unit encountered in P301 along strike and to greater depths and at a larger diameter to allow a higher pumping rate. The hole intersected a continuous sand unit from 220m to 323m before being terminated due to hole instability caused by intersecting gravel beds. Bore P302 was installed to a depth of 309m, with screen intervals beginning at 102 m from surface. These results are highly significant as this thick sand sequence may extend laterally beneath much of the defined brine resource and also to greater depths. Sands of this type have free draining porosity of between 20 and 25% based on previous testwork, and the sand unit could hold significant volumes of lithium-bearing brine which could be added to the resource base by future drilling. In addition, due to the thickness of the sand, any production bore drilled into this unit will be high yielding compared to bores only in the top 200m.


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