Orocobre Limited (ASX:ORE) has been granted an ASX trading halt in relation to a proposed capital raising through a placement of shares to sophisticated investors.
The halt will last until the earlier of the announcement being made or the start of the trade on Monday, 29th June 2015.
Earlier this month, the company identified and rectified all but one of the production bottlenecks at its Olaroz Lithium Facility in Argentina.
This will address the slower than anticipated production ramp-up of both battery grade and technical grade lithium carbonate.
Olaroz produced 26 tonnes of saleable lithium carbonate produced up to the end of April, 44 tonnes produced in May and 100 tonnes expected to be produced in June.
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