price dipping today after the quarterly. Am I missing something? Can't see any bad news...only thing that piqued my attention was the statement on debt financing not having a timeline now compared to some previous releases, and that fact that everything now hangs on it:
"Toyota Tsusho Agreement and Financing Update The receipt of the Olaroz Project mining concessions, as outlined above, have cleared the path for Orocobre to finalize the proposed financing with Mizuho Bank, the associated loan guarantees with Japanese state-owned Japan Oil, Gas and Metals National Corporation (“JOGMEC”), and the definitive agreements with Company’s Olaroz Project partner, Toyota Tsusho Corporation. The Company anticipates the proposed financing process should complete, together with the final investment decision by Toyota Tsusho Corporation in September, with project construction to commence immediately thereafter. Since completion of the definitive Feasibility Study (“DFS”) in 2011, the Company has been actively engaged with Toyota Tsusho, JOGMEC and Mizuho Bank. Toyota Tsusho is arranging debt finance for a minimum 60% of the capital funding requirements for the Olaroz project through a low-cost debt facility to be guaranteed through JOGMEC and arrangement of this facility is a condition precedent on its participation in the project."
ORE Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
