A couple of points from Triage's post concerning start of...

A couple of points from Triage's post concerning start of construction vs available funding.

***"But it may come down to timing. If Toyota does not pay over any of the $112m for another nine months and Orocobre wants to make a start on the 15 month long construction process then maybe ORE will need to pay for the longer lead time capital goods before it gets Toyota's money. So in that scenario then yes we may need a cap raising."***

There will be plenty of design to be undertaken over the coming months before construction can get underway in earnest. Looking at the capital cost breakdown we see brine production wells @ 7.1 mill, processing plant @ 26.5 mill, and utilities @ 27.3 mill. It is hard to see anywhere else where long lead time items might be lurking. The long lead time items will be a smallish fraction of these costs and the deposits and progress payments should be well covered by current cash on hand.

***"It would be good if the ORE managers could clarify whether the 9 month negotiation period with Toyota can overlap the 15 month construction period for the Olaroz project."***

Page 11 of the announcement probably does clarify this - "earlier conditional approvals are likely which will facilitate earlier project development subject to provincial government approvals." I do wonder whether part of the 9 month financing process is the expectation that it will take that long to satisfy conditions relating to (Jujuy) government approvals.