ANNUAL
2018 REPORT
Contents
Overview | |
Highlights 2017-2018 | 4 |
Letter from the Chair | 6 |
Orocobre at a glance | 8 |
Where we are | 9 |
Corporate Strategy | 10 |
Sustainability & Our Communities | 12 |
Operating & Financial Review | |
Performance Overview | 15 |
Assets Overview | 18 |
Olaroz Lithium Facility & The Lithium Market | 19 |
Borax Argentina S.A. & The Borates Market | 28 |
Advantage Lithium & Cauchari JV | 34 |
Health, Safety & Community | 36 |
Directors' Report | |
Executive Leadership Team | 39 |
Remuneration Report | 48 |
Auditor's Independence Declaration | 65 |
Corporate Governance Statements | 66 |
Financial Report | |
Financial Statements | 69 |
Directors' Declaration | 122 |
Independent Auditor's Report | 123 |
Additional Information | |
Resources & Reserves | 129 |
Schedule of Tenements | 139 |
Shareholder & ASX Information | |
Shareholder Information | 147 |
Corporate Directory | 154 |
OROCOBRE ANNUAL REPORT 2018 3 |
Highlights 2017-2018
Orocobre Limited
Olaroz Lithium Facility
A$361 million
funding completed
including a 15% placement to TTC valued at US$284.1 million
US$317 million
cash balance
available as of end FY18
Record EBITDAIX of
US$94.6 million
Average price received of
up 33%
US$12,578
per tonne, up 29%
Gross Cash Margin of 67%, delivering
US$8,384
per tonne, up 39%
Second full year of production totalling
12,470 tonnes
Record yearly revenue
US$148.9 millionUS$40 million
up 5%up 24%
Stage 2 expansion early works program underway with new ponds, roads and camp infrastructure
Borax Argentina S.A.
Record production
at both Tincalayu and the Boric Acid plant at Campo Quijano
Plant & equipment
written down to nil value recognising financial performance
Cauchari Joint Venture
+6-fold increase
of the inferred resource to 3 Mt Lithium Carbonate Equivalent (LCE) at Cauchari
Phase III drilling
has commenced to upgrade the inferred resource and measured and indicated resources for the Feasibility Study
Significant potential for additional
resource expansion at depth
OROCOBRE ANNUAL REPORT 2018 5
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Orocobre Limited published this content on 16 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 October 2018 22:17:01 UTC