GXY 0.83% $1.21 galaxy resources limited

Couple of interesting take aways for me:1. Galaxy anticipates...

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    Couple of interesting take aways for me:

    1. Galaxy anticipates receiving the remaining US$14.55 million (after deduction of withholding tax of US$0.45 million paid in November2018) in sale proceeds from POSCO by 1 March 2019.
    Cash at the end of Feb US$273m. Therefore we can expect the US$14.55m to be accounted for in the March quarterly due Thursday.


    2. I think it is clear that Galaxy are looking to take advantage of the down turn in the lithium sector and acquire assets.
    The Company and Group intend to continue to unlockand realize value from the existing assets of Sal de Vidaand James Bay and to seek new investment opportunitiesin the lithium sector.

    We remain very confident in thelithium business model and the business case for the development of both Sal de Vida and James Bay as fully integrated projects with the aim that within thenext 5 years Galaxy will be producing 100,000 tonnes per annum of lithium carbonate equivalent from ourexisting projects alone.


    3. Cash (outflow) from Investing Activities (US $77,117)

    Add this back to the Cash flow from Mt Cattlin and the operation is very profitable.

    Couple of other nice pieces of info but I don't want to give to much info way to ASB.
    Last edited by ljcamp: 16/04/19
 
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