mojohand...just ask me why I bought in. It's because back in 2013 I initiated research on the lithium battery and EV market. In the course of that research I didn't run to mommy and ask her what to do. What I decided...was that lithium carbonate and hydroxide would be a sought after item to build batteries for EVs and for electricity storage. It wasn't anything in particular that attracted me to Orocobre other then them being the first 'new' greenfield operation in 20 or so years. I saw that as an opportunity and eventually bought shares in the company....as did my family...and friends...and business associates based on my research. Over the past year or so I have started to have some doubts as to why certain things were done and why certain people sold their stake in the company. I have been patient with the company....the first disappointment was the full production date of December 2014 I believe. Since then (coming up on 2 years later) they are still striving to get up to full production. I am sure there were issues along the way...but not being straightforward with shareholders will always come back to bite you. Had the company not tried to rationalize mistakes in the planning and construction phase of the plant...and then try to re-rationalize the shortfall in production and quality with some sad story line of currency losses and import barriers (after the fact). If they had just been forthcoming with ALL the issues in the beginning....they may not have gotten all of the 'sophisticated shareholders' to buy shares from Canaccord and others to finance the management through this sparse time in production. My suggestion was to move the company headquarters to Jujuy, and actually participate in the construction and ramp up. But that would have been inconvenient and certainly not to the liking of Brisbane management. Well...this is the result. Behind in production....over budget....with no chance for shareholders in the next few years.
ORE Price at posting:
$3.56 Sentiment: None Disclosure: Held
