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Main ForumLithium - Galaxy Resources (GXY) ZERO DEBT, $84m cash,

  • HIGHLIGHTS

    Mt Cattlin Operations:

    Production of 47,901 dry metric tonnes ("dmt") of spodumene concentrate

    Sales of 45,761 dmt of spodumene concentrate

    Average cash margin of US$534 per dmt sold (including royalties and marketing fees)

    Construction of Yield Optimisation Project commenced

    New storage facility at Esperance with increased capacity completed

    Sal de Vida Project

    Sale of northern tenements to POSCO for cash consideration of US$280 million

    Updated feasibility study economics validate a highly profitable, long life (40 years), low-cost lithium project

    JP Morgan Australia appointed financial advisor to assist in evaluating potential strategic partnerships for the development of Sal de Vida

    Infrastructure facilities on site enhanced

    James Bay Project

    Feasibility work for upstream mine and concentrator continued

    Hydro-Quebec scoping study report completed for power supply arrangements

    Upstream feasibility metallurgical test work started, base line downstream test work conducted

    Ongoing engagement with local Cree community

    Corporate

    Closing cash and liquid assets of US$84.8 million

    Zero debt
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