Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”) is pleased to announce that Advantage Lithium Corp. (“Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) has engaged engineering consultants GHD, Chile S.A. to commence early engineering geared towards the completion of a Definitive Feasibility Study (DFS) on its flagship Cauchari Project in Jujuy, Argentina. The DFS is expected to be completed by 1H CY19.
Advantage Lithium hold 75% of the Cauchari JV. Orocobre owns 33.5% of Advantage Lithium’s issued capital and 25% directly in the joint venture.
The appointment of GHD follows encouraging Preliminary Economic Assessment (PEA) outcomes and continued positive results from the Phase III resource conversion program. The DFS will provide an appropriate engineering design to produce a Class 3 cost estimate consistent with American Association of Cost Engineers (AACE) principles to build a standalone lithium plant producing 20 thousand tonnes per annum (Ktpa) of Lithium Carbonate Equivalent. A report on this work will be prepared in accordance with NI43-101 standards of disclosure and is scheduled for completion in Q4 FY19.
Orocobre Managing Director & CEO Richard Seville