OROCOBRE LTD NPV (OTCMKTS:OROCF) On A Bull Run

Our readers will remember our last article about OROCOBRE LTD NPV (OTCMKTS:OROCF), the lithium and borax miner. We said that the current demand for lithium to manufacture the electric batteries necessary for electric vehicles was positively affecting the share price. Company LogoAdditionally, we noted that the company seemed very well prepared to profit from this situation. The company was already producing 11,862 tons of mineral and was expecting to produce 14,000 in 2018. Furthermore, plenty of cash and little long term debt could be found on the balance sheet.Have a look at what happened to the share price after our article was published. On September 5, 2017, our last article was released and the share price was $3.20. As of today, October 11, 2017, the share price is $3.81, but it touched the level of $4.00 some days ago.For those who need a calculator, that is a 25% return in less than one month.But, that's not all. The amount of shares that changed hands in September and October increased astonishingly. Have a look: 1 year chart for OROCFFor those who are learning here about this company, let's revisit the company again. Orocobre develops lithium and potash deposits in Argentina. The most significant project is the Salar de Olaroz lithium project located in north-west province of Jujuy. The company is based in Milton, Australia.Recent DevelopmentsOn September 19, 2017, the company provided some information regarding its 35% owned joint venture partner Advantage Lithium (TSXV: AAL), located in the Cauchari Salar of Jujuy province in NW Argentina.The most significant [art is that initial pump tests average 678 mg/liter, with sample results ranging from 585 to 724 mg/l lithium and excellent Mg/Li ratios averaging 2.1:1. Furthermore, three drill rigs are now testing for extension to existing NI43-101 resource.Orocobre Managing Director and CEO, Richard Seville, celebrated the announced developments. He used the following words:

"The execution of this program over winter is a testament to the dedication and competence of the Advantage team. Pleasingly, these initial results demonstrate good brine concentrations and chemistry similar to that at Olaroz." Source

Additionally, we could read that Advantage Lithium continues to increase its stake from 50% to 75% through the expenditure of $5 million or by completing a Feasibility Study. OROCF owns the rest of the project.Finally, we could read that more professionals are opting to work for the company. This time, Andy Robbs, Technical Advisor and Frits Reidel, consulting Independent Qualified Person, joined the team. We need to note that Andy has worked for BHP Billiton, AMC Consulting and Enirgi Group Corporation. Additionally, Fritz brings to the company a large expertise in brine resource evaluation, salt-lake exploration, hydrogeology, drilling methods, well construction, and testing gained from working on numerous projects, such as Olaroz, Cauchari (Lithium Americas), and Maricunga.We really appreciate the new profiles. The company is growing through the acquisition of new talent. Additionally, these executives have worked for big corporations and bring added experience that will pay off in the long run. On October 4, 2017, the company released an agreement with LITHIUM X ENERGY C COM NPV (OTCMKTS:LIXXF). More specifically, Borax Argentina S.A. and South American Salars S.A., which are subsidiaries of the company, agreed with LITHIUM that it will acquire 2,700 hectares of tenements from Borax, over which LITHIUM currently holds usufruct rights for the extraction of lithium brines. Additionally, LITHIUM will also acquire further 700 hectares owned by South American.These tenements will be consolidated into the PLASA project, Sal de los Angeles in Salta Province, Argentina. In the press release, we could read many of the terms included in the agreement. But, in our opinion, the most significant is that Borax will receive $250,000 and 650,000 common shares of Lithium X. Furthermore, $750,000 are payable to Orocobre upon certain conditions. In our opinion, the market appreciated these payments in cash and stock. Managing Director, Richard Seville, was quoted:

"This transaction further clarifies the focus on our world class Olaroz lithium facility and simplifies the current tenement position at Diablillos. The royalty we have retained also provides for a potential income stream in the future." Source

For those interested in further explanation of the results delivered recently, the CEO, Richard Seville, gave an interview to CommSecTV. Have a look at it:

Our take and ConclusionCurrently trading with a market cap of $393 million, OROCF is an exciting story among small caps. With $52 million in cash, $240 million in total assets and only $22 million in total liabilities, the company continues to maintain solid fundamentals. Overall, the OROCF bull run looks set to continue.Be sure to check out our coverage on OROCF!We will be updating our subscribers as soon as we know more. For the latest updates on OROCF, sign up below!Image courtesy of Arnaud Z Voyage via FlickrDisclosure: We have no position in OROCF and have not been compensated for this article.