GXY 0.00% $5.28 galaxy resources limited

I've thrown it into the uninvestable basket at the moment. Too...

  1. 5,792 Posts.
    lightbulb Created with Sketch. 1151
    I've thrown it into the uninvestable basket at the moment. Too much uncertainty and moving parts, so I would be sticking clear of it.

    I've said before that Mt C is a total dud asset and the fact that recoveries are still pathetic after years of production highlights this. They were mining in a pit that they said had better recoveries last quarter. You would hardly believe it looking at the quarterly. I think PLS is at 70% and they only started production mid last year.

    SDV is a balls-up at the moment. It's GXY's primary asset and 40 parties are valuing it at a fraction of what GXY thinks it's worth. 40 parties surely can't be wrong. GXY's internal valuation is based on the price POSCO paid and we all know that POSCO bought around the peak of the lithium bubble and prices have tumbled since. Most experts say lithium pricing will be flat at best for the remainder of the year. There isn't going to be a turnaround anytime soon, if ever, IMO.
 
watchlist Created with Sketch. Add GXY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.