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Orocobre Provides Update on Cash Receipts from Release of SBLC's

19 May 2017  |  10:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Further cash receipts from release of SBLC's

Orocobre provided an update on the receipt of VAT and release of additional cash security deposits in Australia which back Sales de Jujuy (SDJ) Argentine working capital facility. Around US$19.8m of VAT refunds have been received by SDJ to date taking into account VAT received recently. All VAT claims submitted to Argentine authorities through to, and including January 2017 have now been approved and paid. SDJ repaid US$5M of its working capital facility this week resulting in a release of US$5m held as security for the Standby Letters of Credit which support the SDJ working capital facility.

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