Orocobre Limited (ASX: ORE), a minerals exploration and production company, reported an increase in production of 35% to 3,093 tonnes on pcp basis for the period ended 30 September 2019 in its Olaroz Lithium Facility. Quarterly sales revenue was US$22.1 million, down by 21% QoQ with a realised average price of US$7,111/tonne on FOB basis.
- Gross cash margins were down by 40% QoQ to US$2,226/tonne due to the lower average price received;
- Cash costs for the quarter were US$4,885/tonne, up 9% on QoQ excluding the export tax of US$420/tonne applicable since September 2018.
At AEST 01:29PM, the stock was trading at $2.28 per share, down by 3.5% from its previous close.
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