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Main Forum•Lithium - Galaxy Resources (GXY) ZERO DEBT, $84m cash,
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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 completedSal 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 enhancedJames 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 communityCorporate
Closing cash and liquid assets of US$84.8 million
Zero debt
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