Orocobre (ASX:ORE) see underlying net loss after tax of US$9.9 million

Company News

by Rachael Jones

Lithium chemicals producer Orocobre (ASX:ORE) reports statutory consolidated group net loss of US$18.9 million for H1 FY20 is down from a profit of US$24.1 million in the previous corresponding period (PCP).

The underlying net loss after tax for the group is US$9.9 million with adjustments for impairment, foreign exchange and other one-off items.

They expect full year production to be 5 per cent higher than in the 2019 financial year, but warned it expected the average sales price for lithum to be $US500 a tonne in the March quarter.

Shares in Orocobre (ASX:ORE) are trading 4.5 per cent higher at $3.46
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.