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