Le Lézard
Classified in: Mining industry, Business
Subject: CON

Restructure of brine extraction rights at Diablillos with Lithium X



BRISBANE, Australia, Oct. 4, 2017 /CNW/ -- Orocobre Limited (ORE: ASX, ORL: TSX) (Orocobre) is pleased to announce the execution of agreements with Lithium X Energy Corp. (TSXV: LIX) (OTCQX: LIXXF) ("Lithium X") in respect of tenure held by Orocobre subsidiaries, Borax Argentina S.A. ("Borax") and South American Salars S.A. ("SAS") at the Salar de Diablillos.

Lithium X through its wholly-owned subsidiary, Potasio Lithio de Argentina S.A. (PLASA) will acquire 2,700 hectares of tenements from Borax over which Lithium-X currently holds usufruct rights for the extraction of lithium brines.  Lithium-X will also acquire a further 700 hectares owned by SAS which had been excluded from the Advantage Lithium transaction (ASX release 28 March 2017).  These tenements will be consolidated into the PLASA project, Sal de los Angeles (SDLA) in Salta Province, Argentina. 

Under the agreement:

Managing Director Richard Seville commented, "This transaction further clarifies the focus on our world class Olaroz lithium facility and simplifies the current tenement position at Diablillos.  The royalty we have retained also provides for a potential income stream in the future."

For more information please contact:

Richard Seville

Andrew Barber

Managing Director

Investor Relations Manager

T: +61 7 3871 3985

T: +61 7 3871 3985

M:+61 419 916 338

M: +61 418 783 701                          

E: rseville@orocobre.com

E: abarber@orocobre.com

About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron.
Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSE: ORL). Orocobre's operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 35% interest in Advantage Lithium.

For further information, please visit www.orocobre.com.

______________________________

1 Mine Mouth Royalty is calculated as revenue less all costs incurred from the point of brine extraction.

SOURCE Orocobre Limited


These press releases may also interest you

at 14:02
CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced  board officers for 2018.  The CoBank board elects its officers to serve a one-year term...

at 14:00
Inside Real Estate announced today the acquisition of BrokerSumo, a Commission Management cloud software provider to real estate brokers. BrokerSumo's product allows customers to easily manage commission calculations, agent onboarding and billing,...

at 14:00
Today the Honourable Jane Philpott, Minister of Indigenous Services, congratulated Whitefish River First Nation on the awarding of a contract to construct an elevated water reservoir in the community. Ceccetto & Sons Ltd. was awarded the contract...

at 13:59
In December 2017, Deere purchased Germany's Wirtgen Group, a $3 billion manufacturer of heavy construction equipment. Freedonia Group analyst Gleb Mytko discusses the implications: "Deere's purchase of Wirtgen Group is significant for a number of...

at 13:57
MG+M attorney Javier Flores has been appointed by Mayor Marty Walsh as a member of the Boston Fair Housing Commission. Javier was sworn in earlier this week at the State House. The Fair Housing and Equity department...

at 13:39
Commercial National Financial Corporation , parent company of Commercial Bank & Trust of PA, has declared a special dividend of $0.26 per share payable December 29 to shareholders of record as of December 26. Direct and beneficial ownership by...




News published on 4 october 2017 at 20:12 and distributed by: