Orocobre rises on record profit

Original article by Matt Chambers
The Australian – Page: 22 : 29-Aug-18

Australian-listed Orocobre has posted a 2017-18 underlying profit of $US25.7m, compared with $US13.8m in 2016-17. However, impairment charges and tax law changes saw the lithium miner’s statutory net profit fall from $US4.6m previously to $US1.9m. Orocobre benefited from a 29 per cent rise in the lithium price, and MD Richard Seville expects the price to remain strong in the first half of 2018-19. Orocobre’s shares rose 5.8 per cent to $4.37 on 28 August.

CORPORATES
OROCOBRE LIMITED – ASX ORE, GALAXY RESOURCES LIMITED – ASX GXY, SOCIEDAD QUIMICA Y MINERA SA, POSCO, TOYOTA TSUSHO CORPORATION

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