Lok Niu...if the company was over a barrel with their deal with Tsusho then maybe that should have been disclosed. As far as I can tell there were indications based on supply and demand that the price of lithium was headed up....but in deference to your assumption...maybe the amount of rise couldn't be completely foretold. However, if you are going to hold shareholders (and sophisticated investors) financially accountable for the misdeeds of poor construction planning, then shareholders are going to want to hold management responsible for other elements that are now costing them $. Had Orocobre planned out the construction accurately...I doubt there would be as much animosity over the 'lowball' price afforded Tsusho's customers. But, since the management team failed in their appraisal of the actual costs of construction (maybe that's the reason for Calaway's departure), shouldn't management hold some responsibility for the overruns and additional costs of construction....and now to add insult to injury the cut rate sales to Japan? After all Tsusho is a partner in all this, and typically if partners are willing to share in profit, they should also be willing to share in misfortune. If they are true partners shouldn't they be giving Orocobre a little more slack....? Why hold your producing partner out to dry on pricing while they have done so much to bring the partnership to fruition? Could there be ulterior motives?
Maybe it's time for management to show their true colors....turn back those options..and return some of the shares you were given based on expectations of performance. Niu....you can go on defending management, but at some point an intelligent investor has to ask himself...do I need a lawyer?
ORE Price at posting:
$3.33 Sentiment: None Disclosure: Held
