Orocobre Quarterly Report of Operations for the Period Ended 31 March 2018

Orocobre (TSX:ORL) (ASX:ORE) reported quarterly operations results for the period ended 31 March 2018.

As quoted in the press release:

OLAROZ LITHIUM FACILITY

• Record quarterly sales revenue of US$41.3 million on total sales of 3,052 tonnes of lithium carbonate. Total sales revenue for the year to date is US$105 million

• Record gross cash margin up 21 percent to US$9,177 per tonne, underpinned by firmer sales prices, demonstrating the strong cash generation ability of the Olaroz operations

• Record price received of US$13,533/tonne on a free on board basis (FOB), up 17 percent quarter on quarter (QoQ) with higher priced contracts reflecting firmer market conditions. Prices for the June quarter 2018 are expected to be higher than in the March 2018 quarter

• Cash costs (on cost of goods sold basis) up 10 percent QoQ to US$4,356/tonne as a result of lower production and sales volumes in the quarter

• Production of 2,802 tonnes of lithium carbonate. As previously reported 2018FY production is expected to be approximately 10 percent less than the previous guidance of approximately 14,000 tonnes

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