TTC Tathacus Resources Ltd

Orocobre Limited (TSX:ORL)(ASX:ORE) ("Orocobre" or "the Company") is pleased to
announce the commissioning of the first production wells and the commencement of
the filling of the first evaporation pond at the Olaoroz lithium project. 


To view a photo of the first flow into the evaporation pond, please visit the
following link: http://media3.marketwire.com/docs/orl904a.pdf 


The first pumping and filling of evaporation pond 4B occurred at the beginning
of August to coincide with the local customary celebration of Pachamama (Mother
Earth). This was four weeks earlier than scheduled. Additional bores have been
commissioned and pumping has been increased to 30% of design rate and is
scheduled to achieve the full rate by November. 


The filling of evaporation pond 4B is significant for a number of reasons.
Firstly, the commencement of the brine filling is ahead of schedule. Secondly,
this effectively signals the beginning of the first step in the process of
manufacture of lithium carbonate. Finally, it signals the end of a period where
there were a high number of concurrent activities in progress and also where we
reached the peak headcount on site. 


The project continues to proceed on time and within budget. A total of US$121m
has been spent or committed via executed contracts in the construction project
to date. 


A summary of the recent and current activities on site is listed below with some
images capturing the recent journey. 


The following tasks are currently in progress and at varying stages of completion:



--  Foundations and metal structure fabrication for process plant buildings,
    soda ash warehouse, finished product warehouse and maintenance
    facilities 
--  Construction of warehouse and maintenance workshop building 
--  Groundwork and concrete foundations of water treatment plant 
--  Waste water treatment plant 2nd stage 
--  Drilling of the remaining 6 brine wells 
--  Installation of deep well pumps 
--  Civil works in the brine collection area 
--  Evaporation pond construction (conclusion of pond P1, P2, P3) 
--  Erection of liming plant structure and equipment 
--  Water plant tank construction 
--  Gas pipeline construction 
--  Erection of final modules for the camp 
--  Camp infrastructure construction (erection and connection of bulk gas
    tanks) 
--  Overflow channel construction 
--  Construction of process buildings (main building, soda ash and end
    product storage) 
--  Liner installation of second evaporation pond 
--  Construction of reinforced earth gabions for transfer pumps foundation 
--  Construction of overhead power lines 



To view photos of the evaporation pond, please visit the following link:
http://media3.marketwire.com/docs/orl904b.pdf. 


More images, including aerial photographs are available on our web page under
"Gallery". Please click here for the most recent images:
http://www.orocobre.com.au/Gallery_Construction_August.htm 


The Company continues to follow the "Jujuy First" strategy to successfully work
with suppliers and the employment bureau to focus on the hiring of local people
from the communities of Olaroz, Huancar, Puesto Sey, Pastos Chicos, Catua,
Susques, Jama, El Toro, Coranzuli, San Juan and Abrapampa. The Company recently
sponsored the Olaroz Chico student graduation trip to Salta and Jujuy cities. 


The project implementation is through EPCM (Engineering, Procurement and
Construction Management) with a high proportion of local involvement through
construction and supply contracts and local employment. The unique community and
shared value policy continue to be a key success factor, training local people
under the supervision of high quality experienced professionals. 


The Olaroz lithium project is being developed by Orocobre (66.5%) with partners
Toyota Tsusho Corporation ("TTC") (25%) and the Jujuy Province mining and energy
company, JEMSE (8.5%) with a construction budget of US$229m including
contingency. First production is scheduled for the end of the second quarter,
2014.


About Orocobre Limited 

Orocobre Limited is listed on the Australian Securities Exchange and Toronto
Stock Exchange (TSX:ORL)(ASX:ORE), and is building a substantial
Argentinian-based industrial minerals company through the construction and
operation of its portfolio of lithium, potash and boron projects and facilities
in the Puna region of northern Argentina. The Company is building in partnership
with Toyota Tsusho Corporation the first large-scale, "greenfield" brine based
lithium project in 20 years at its flagship Salar de Olaroz resource, with
projected production of 17,500 tonnes per annum of low-cost battery grade
lithium carbonate scheduled to commence in Q2 2014. The Company also wholly-owns
Borax Argentina, an important regional borate producer. Orocobre has recently
been included in the S&P/ASX 300 Index and was named 2012 Mining Company of the
Year by Argentine mining magazine Panorama Minero and the Fundacion para el
Desarrollo de la Mineria Argentina ("Fundamin" or Foundation for Development of
Argentina Mining). For further information, please visit www.orocobre.com


Caution Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of
applicable securities legislation. Forward-looking information contained in this
release may include, but is not limited to, the draw down of finance for the
Olaroz Project, the completion of construction at the Olaroz Project and the
timing thereof, the commencement of commercial production at the Olaroz Project
and the timing thereof, the cost of construction relative to the estimated
capital cost of the Olaroz Project, the design production rate for lithium
carbonate and potash at the Olaroz Project, the expected brine grade at the
Olaroz Project, the expected operating costs at the Olaroz Project and the
comparison of such expected costs to expected global operating costs, and the
ongoing working relationship between Orocobre and the Province of Jujuy.


Such forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to the risk of further changes in government
regulations, policies or legislation; the possibility that required concessions
may not be obtained, or may be obtained only on terms and conditions that are
materially worse than anticipated; the risk that the conditions precedent to
draw down the project financing with Mizuho Corporate Bank will not be met; that
further funding may be required, but unavailable, for the ongoing development of
the Company's projects; fluctuations or decreases in commodity prices;
uncertainty in the estimation, economic viability, recoverability and processing
of mineral resources; risks associated with weather patterns and impact on
production rate; risks associated with construction and development of the
Olaroz Project; unexpected capital or operating cost increases; uncertainty of
meeting anticipated program milestones at the Olaroz Project; general risks
associated with the feasibility and development of the Olaroz Project; as well
as those factors disclosed in the Company's Annual Information Form for the year
ended June 30, 2012 filed at www.sedar.com.


The Company believes that the assumptions and expectations reflected in such
forward-looking information are reasonable. Assumptions have been made
regarding, among other things: the timely receipt of required approvals and
completion of agreements on reasonable terms and conditions; the ability of the
Company to obtain financing as and when required and on reasonable terms and
conditions; the prices of lithium and potash; and the ability of the Company to
operate in a safe, efficient and effective manner. Readers are cautioned that
the foregoing list is not exhaustive of all factors and assumptions which may
have been used. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers
should not place undue reliance on forward-looking information. The Company does
not undertake to update any forward-looking information, except in accordance
with applicable securities laws.


ABN: 31 112 589 910

FOR FURTHER INFORMATION PLEASE CONTACT: 
Orocobre Limited - Australia and Asia
David Hall
Business Development Manager
+61 7 3871 3985 or Mobile: +61 407 845 052
dhall@orocobre.com


Orocobre Limited - North America
James Calaway
Chairman
Mobile: +1 (713) 818 1457
jcalaway@orocobre.com
www.orocobre.com

Tathacus Resources Ltd (TSXV:TTC)
Historical Stock Chart
From Jul 2024 to Aug 2024

Tathacus Resources Ltd (TSXV:TTC)
Historical Stock Chart
From Aug 2023 to Aug 2024