GXY 0.57% 88.0¢ galaxy resources limited

new announcement

  1. 922 Posts.
    Positive announcment.

    • Since the Bankable Feasibility Study (BFS) commenced in January 2008, key project
    consultants have now been selected.
    • Further work since the Pre Feasibility Study (PFS) confirms a straight forward and
    robust project, based on a shallow open pit mine, low overburden ratios and
    conventional, proven and readily available processing technology.
    • Pre-feasibility Study (PFS) financial models have been modified to include further
    processing of spodumene. Results confirm the potential viability of a conventional
    spodumene roast/leach to produce lithium carbonate.
    • BFS to now focus on open pit mining of pegmatite host and processing, using
    conventional crushing, heavy media separation, grinding, classification and magnetic
    separation to produce spodumene and tantalum concentrates; and then thoroughly
    testing the viability of lithium carbonate production.
    • Successful lithium carbonate production will provide Galaxy with the opportunity to
    substantially increase the net present value of the project.
    • Initial pit shell modelling and review of the PFS:
    �� confirms waste to ore ratios will be less than originally assumed in the PFS; and
    �� highlighted the areas of highest priority for infill drilling.
    • Discussions are progressing with strategic marketing partners and consumers of
    spodumene concentrates and lithium carbonate, who are seeking long term supply
    • Review of the spodumene and lithium carbonate market and new projects under
    development, suggest:
    �� The products should enjoy high current market demand and strong future demand
    growth; and
    �� Mt Cattlin (by comparison) is potentially larger in scale, with potential to place
    Galaxy at the No. 2 position in the world for the production of spodumene
    concentrates and also a significant producer of lithium carbonate.
    • A further 2,500 - 5,000m of RC drilling is to commence in mid March, designed to
    enhance and expand current Mt Cattlin JORC compliant resources.
    • The BFS completion date is targeted for September 2008.
watchlist Created with Sketch. Add GXY (ASX) to my watchlist
(20min delay)
Mkt cap ! $358.2M
Open High Low Value Volume
88.0¢ 89.0¢ 87.0¢ $116.7K 132.6K

Buyers (Bids)

No. Vol. Price($)
16 58377 87.5¢

Sellers (Offers)

Price($) Vol. No.
88.5¢ 43253 12
View Market Depth
Last trade - 10.56am 11/12/2019 (20 minute delay) ?
0.005 ( 0.75 %)
Open High Low Volume
89.0¢ 89.0¢ 87.5¢ 36046
Last updated 11.19am 11/12/2019 (live) ?
GXY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.