The outlook looks good for Australian lithium miner Galaxy Resources Limited (ASX: GXY) who currently have three lithium projects globally.
Unlike their much larger peers, they are a pure play lithium miner.
Galaxy recently agreed to sell their northern Sal De Vida tenements to POSCO for US$280m due to be completed Q3, 2018. The kicker is they retain their Southern tenements and still have a very large high quality lithium resource.
The Mt Cattlin mine has ramped up lithium spodumene production to reach 47,901 tonnes in Q2 2018, at an average cash margin of US$534/t. On a yearly basis that works out to be ~US$100m just from Mt Cattlin.
Galaxy Resources continues to slowly advance their final project at James Bay spodumene mine. The Feasibility Study is in progress as is further metallurgical test work and ongoing engagement with the local Cree community.
As global lithium demand continues to escalate Investors need look no further than Galaxy Resources for a low risk, high reward, pure play lithium miner. The pathway ahead looks very achievable for 2025 and beyond.
— InvestorIntel (@Investor_Intel) July 23, 2018