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Main ForumGalaxy Resources - Will they takeover ASX: LIT?

  • Galaxy Resources Limited is pleased to report to shareholders its activities for the quarter ended 31 December 2017.

    HIGHLIGHTS

    Mt Cattlin Operations
    • Record production of 52,139 dry metric tonnes ("dmt") of lithium concentrate, an increase of 11% over Q3 2017
    • Production for the quarter at an annualized rate of c.209,000 dmt tonnes per annum (“tpa”) of lithium concentrate
    • Record sales of 58,094 dmt of lithium concentrate, an increase of 39% over Q3 2017
    • Average production cash costs (excluding royalties and marketing fees) of US$325 (A$423) per dmt produced
    • Average realized selling price before royalties and marketing fees of US$868 (A$1,125) per dmt sold, an increase of 3% over Q3 2017
    • Offtake agreements signed with multiple customers for 5 years for 100% of total planned lithium concentrate production
    • EBITDA of A$34.2 million plus lots more here

    To my mind GXY would benefit vastly by taking over ASX:LIT and using the Sileach process.

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