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28/10/15
16:50
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Originally posted by Active
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And so the Orocobre story unfolds.... I have to say that each delay that transpires continues to put a question mark over management and their ability to resolve problems...
The market continues to speak with now almost 8,000,000 shares short... this is close to 5% of the register and can no longer be ignored as just insignificant.
There do appear to be multiple issues with the plant and although I am not in any way technical, I know from bitter experience with other machinery and plant that is new and designed to perform at certain capacity, that it can take a years to getting it working properly and at at name plate capacity..
Most worrying in the last report was that 250 tonnes of Lithium carbonate was produced but only 50 was saleable!!! what is the issue there?
There are currently more questions than answers and I am happier sitting on the sidelines than guessing how long it is going to take to resolve them all...
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According to today's ASX figures, the short selling is only 2% of issued shares. Is that really a problem?
And where did you arrive at your figure of 5%, as, according to todays ASX figures it is only 2% of issued capital (41,609 over 168,653,677 of issued capital).