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GALXF: Orocobre Ltd merged with/acquired Galaxy Resources. Galaxy shareholders have been issued the Scheme consideration of 0.569 new fully paid ordinary shares in Orocobre for each Galaxy Share held.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
OROCF to merge with GALXF!!!!!!
https://www.orocobre.com/wp/?mdocs-file=7805
I am not sure if you still own this, but it looks like producers like this and OROCF are catching up with non-producers, which had been doing better, I suspect it has to do with slowly improving prices and better execution from the new CEO.
Cheers!
Looks like we share a lot of the same stocks and ETF's.
I'm not big into EV Makers asides from TSLA and BYDD F, and Y.
Probably a good move so you have plenty of diversification. I only have GALXF, OROCF and LAC in lithium, PLUG in hydrogen, 3 in MJ (TCNNF, LHISIF and APHA) and 3 in pharma (CYDY, SGMO and RLFTF). I may also pick another 1-2 battery metal(s), because the new wave is definitely arriving. The rest of my investments are boring and doing well, but the above have been outstanding lately. I hope it continues, but I am always cautious.
Good luck!
I also have BATT, a lithium battery etf.
I used to have LIT, but left prematurely. I also looked at VALE but never bought. I have Galaxy, Orocobre and LAC. They have all done well lately because the lithium sector is starting to rebound. I think they will do extremely well over the next 1-2 decades.
Good luck!
Oops.
I meant LIT.
Yep.
My others are VALE and LI, the lithium index.
Yep, I am glad I kept my shares. The new CEO has been doing a better job by avoiding poor decisions. The sector is turning around. I am staying long term with this and a couple other lithium producers.
I made quite a bit of money with it from 2016 to 2018. I sold most of it and left some for the free ride. Unfortunately, the shares I left did not make me any extra money because the SP has been going down steadily until the recent spike. I decided to let those shares ride because the lithium sector should do well in 1 to 3 years.
As far as the company goes, the mine is Australia was nor huge but was quite profitable until lithium prices tanked. The other two resources in Argentina (top brine quality) and Canada are better. The company is finally making progress in Argentina by building a small set of ponds and it is my understanding that they will start producing next year. Canada is in early early stages prior to any construction, but it is a great mine with ore close to the surface and strategically located in North America.
The biggest problem with Galaxy is that the current Management sucks. They have made bad investments in other companies and were not able to do anything about Argentina until recently. Both of these resources need funding and Management wasted about $100M in bad decisions. They are way over their heads and they need a big partner to move in and help them develop the resources or buy the company. I think this will eventually happen, so I decided to keep my few shares for the free ride. However, I like a couple of other brine producers and perhaps one rock producer better than Galaxy, who used to be the darling but no more.
I hope this helps.
Doing better lately, but still needs 1-3 years for lithium sector to truly take off. It is a long term play to be bought carefully.
Haven't looked at this company in quite some time,but am familiar with all of the deposits as I moderated here a decade ago.
Anyone here able to offer a short current update,or perhaps provide a link to an intelligent discussion?
found this update on their website-
http://www.gxy.com/media/announcements/44dg93tsk2fpkt.pdf
futr
Up almost 20% from new year. Galaxy going strong into 2020
Lithium sector is starting to show a revovery. Q1 2020 this could run.
Hang on to those GALXF shares Etailer or buy more if you have spare cash. This will be one of the first lithium stocks to bounce after this debacle. $400M in cash to fund Argentina plus about $100M/yr profit from Australia with a soon to be upgraded resource in Mt. Cattlin to help fund James Bay in Canada with little/no dilution, plus upcoming announcements of JV/partners in Argentina makes Galaxy the top lithium junior IMHO.
Happy holidays and a prosperous 2019!
Same to you Etailer.
Confirmation of the $280M deposit from sale to POSCO is expected any day now, but the bigger bang should come when they announce partner(s)/JVs for SDV in the next few weeks(?).
Agree, GALXF is the number 1 junior producer IMHO, even though there are several others than are also great.
$GALXF. MAYBE RETRACE MORE BUT STILL A BARGAIN. ALL JUNIOR LITHIUM MINES WILL DO WELL.
August 28th announced : http://www.galaxyresources.com.au/media/announcements/43xrdnwx23v3r4.pdf
August 30th released Q earnings .
Quite the little "Dip"......Down 4.5 % ??? (in Australia)
Thing's getting JUICIER by the minute.
Last week :
3 weeks ago : https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142714269
.
Excellent half year report below. Let hope that the SP will react.
http://www.galaxylithium.com/media/announcements/1837988.pdf
Webcast for Semi-annual resuls on August 29 afternoon in US (August 30 morning in Australia).
http://www.galaxyresources.com.au/Investor/Key_Dates.htm
In addition, POSCO has Board meeting very soon to decide approval for buying Galaxy’s north tenements in Sal de Vida for $280.
These should help the SP.
Galaxy about to bounce, guaranteed! LOL
HC stands for Hotcopper, which is an Australian site similar to this one, but the Aussies get much more involved in their stocks, so you can learn quite a bit about their research and chart opinions. I highly recommend it if you invest in Australian lithium miners.
I think that it is getting close to bottom and may have started bouncing back. The big news coming soon (weeks) is the final confirmation that Corean giant POSCO will buy the north tenement in Argentina for $280M. This money plus what they have in hand will help Galaxy fund Most of the Argentinian plant and maybe even get started in Canada with much lower borrowing. It is also expected that POSCO will work with Galaxy by applying its technology to the brine. If it works, it may help shorten the evaporation process considerably (from months to days/weeks). I think the SP will react positively in anticipation of these news or shortly after. It is possible that today’s minor uptick could be the start, but who knows(?). I mainly hope for a stop of all the crap that is affecting the lithium sector. I am sure my buddy NW2 will be the first to tell me if my prediction is right or wrong.
Good luck!
ok thanks,
i'll check it out
HC = An Australian investment website named Hot Copper
Is probably Googleable
Elsewhere re GALXF, etc.....They've not necessarily "hit bottom" just yet....
@nowwhat2 yeah its good to see that it has hit the bottom. I was just concerned that it might be different because of all the Trump noise and market disruptions with trade.
@tikotiko yeah all good things! Galxf was the fist stock i really bought into to learn trading. I'll go check out HC, but what does HC stand for? haha~ but yeah there is a bunch of noise out there about lithium, batteries, EV etc... quite annoying to filter through
I only check this occasionally (much better discussion at GXY in HC). Company is solid: over $100M/yr in profits, resources in 3 continents, no debt, 280M for sale to POSCO of part of Argentina salar to fund construction there and start in Canada, lowest predicted costs or brine production in Argentina due to second to none brine of any project, key technological partnerships with POSCO and Lepidico, great management, etc.
The bad part is that the whole lithium sector is down due to manipulation and bad news (mostly fake).
It has been pretty quiet here
Just been wondering, did everyone leave the board?
also noticed the fall to 2.15 this morning. just wondering id its part of the "trade war" Trump is messing with?
Below is the link with the announcement that explains the reason why we are up by 10% today. Galaxy sold its undeveloped north tenement in Sal de Vida to Korean giant Posco for $280M. This will help fund almost 60% of Galaxy’s $475M brine project in the south tenement, which is further ahead in development. This funding plus close to $90/M/year from Mt Cattlin, plus future agreements and off-take deals will result in zero debt, no dilution and full funding of Galaxy projects (...and let’s not forget the other great project in Canada!). In addition, Galaxy and Posco agreed to work together in developing the north tenement at the proper time in the more distant future. They will probably share the plant, technology, etc. This is a master stroke by Galaxy’s CEO Anthony Tse. It provides great synergy among Galaxy, Posco Lepidico and others.
Happy!
http://www.galaxylithium.com/media/announcements/1806100.pdf
Nothing posted here in some time, but Galaxy is going to bounce nicely with lots of positive news in the horizon. Read the Hotcopper forum to convince yourself.
Why Galaxy Resources Limited shares have been on fire this week
One of the best performers on the local share market this week has been the Galaxy Resources Limited (ASX: GXY) share price.
Although in morning trade the lithium miner’s shares are down 2% to $3.37, their week-to-date gain is still an impressive 11%.
Why have its shares been on a tear?
There have been a couple of catalysts for this push higher. The first has been improved sentiment amongst many leading brokers.
A broker note out of Citi at the start of the week revealed that its analysts have upgraded Galaxy’s shares to a buy rating from neutral following an industry sell-off which it described as “overdone”. The broker has a sizeable $4.60 price target on Galaxy’s shares. Citi also upgraded Orocobre Limited (ASX: ORE) shares to a buy rating as well.
This was hot the heels of Ord Minnett initiating coverage on Galaxy with a buy rating and $4.00 price target last week.
The second potential catalyst for its push higher is a report in The Australian which speculates that German automaker giant BMW is going to sign an offtake agreement with Galaxy.
As 100% of the planned production at Galaxy’s Mt Cattlin project is already secured with multiple customers throughout Asia for the next five years, this potential offtake agreement with BMW would have to be related to its yet to be commissioned Sal de Vida asset in Argentina or James Bay asset in Canada.
I think that bringing either of these assets on line would be a huge boost to the company’s growth prospects and put it in a position to generate bumper free cash flows. Hence why I’m not surprised to see its shares rise on the speculation.
https://www.fool.com.au/2018/02/14/why-galaxy-resources-limited-shares-have-been-on-fire-this-week/
That could be the reason for the Popup?!
... Market analysts are questioning whether lithium producer Galaxy Resources could be about to strike an offtake agreement with BMW amid a rush by car companies to gain access to the raw materials ...
www.theaustralian.com.au/business/dataroom/bmw-may-sign-deal-for-galaxy-lithium/news-story/de38ad1e695c528864ae3bd732a8bd47&sa=U&ved=0ahUKEwi7hN_Xy6PZAhVCY1AKHYq_Dg0QFggLMAA&usg=AOvVaw1b8Bho3CuvQOo6Hmf2J0IX
I bought a few more today. I am waiting for the nice bounce after this correction.
That’s good, I have a little ground to make up.
Galaxy is currently 11% up in Australia. I sure hope that this bounce can be sustained for several days, but I plan to buy more if it retraces.
Like many here, I have lost a lot of money since the start of the year, but I remain confident that the lithium story is very real and that we will benefit nicely in the long run. Luckily, I have a bit of cash left, which I plan to invest it mainly in the junior producers and soon to be producer that I own (Galaxy, Altura and Orocobre). I also plan to keep my positions with other more junior miners not producing for a few years, but I don’t think I will increase my positions at this time. I see it as if we get to start again with a clean slate after all the pain we have suffered. I also think that the market will next reward the junior miners making real dough over the more speculative explorers.
Good luck to all and hang in there!
Sweet, that’s like a 35% discount to where it was a couple of weeks ago
Bought again today at $2.38. I think it will bounce soon.
I bought twice this week for averaging. I think that the bottom is here or near, but the US government shutdown may lower the entire world market temporarily. This could provide a good opportunity to buy this major dip before the big bounce.
Galaxy is tempting me to buy more at this level. A opportunity presents itself.
Agree, see my comment in ALTAF thread.
Expansion talk wipes billions off lithium miners
In case your wondering why the big drop in your lithium stocks.
This expansion of lithium supplies won't happen for 4-5 years.
http://www.afr.com/business/mining/expansion-talk-wipes-billions-off-lithium-miners-20180118-h0kqqo
I have both companies. They are by far my largest holdings in lithium, even though I have started diversifying in a few other junior producers. I have tripled my money with Altura and doubled it with Galaxy in about 1 year. In my opinion, Galaxy is the lithium company that is most solid and that has most long term potential. It has no debt, has both mines and brine, is present in 3 continents, has nice contracts, owns part of Lepidico (LPD) and has a great team. I will not be surprised if it becomes the top 3 or top 5 producer in the world. Altura is also great, since it’s team is also excellent, is about to produce and plans to double production in the near future. Both companies’ SPs will go through occasional retracement as we are seeing today, but the future is very bright. I plan to go long with both with minor profit taking here and there.
Good luck to all Galaxians and Alturians!
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Galaxy Resources (ASX: GXY) is an S&P/ASX300 emerging mining and chemical company focusing on lithium and tantalum production. Galaxy is at an advanced stage of developing its Mt Cattlin Lithium Project (hard rock spodumene) in Ravensthorpe, Western Australia. The Project encompasses a mine and minerals plant which will produce 137,000 tpa of 6% Li2O spodumene concentrate. Galaxy intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in China.
The Company is finalising plans to establish a lithium carbonate chemical facility in Jiangsu Province, producing 17,000 tpa of lithium carbonate.
COMPANY WEBSITE
http://www.galaxyresources.com.au/
Australian Securities Exchange [ASX] - Includes Chart of Galaxy
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=GXY#chart
CHART IN AUSTRALIAN CURRENCY
GALAXY SIGNS BINDING LONG TERM OFFTAKE AGREEMENTS FOR MT CATTLIN Highlights • Binding offtake agreements for minimum 200,000 tonnes per annum of lithium concentrate signed with multiple customers for 5 years • 100% of total planned lithium concentrate production from Mt Cattlin sold for contract term • Headline pricing achieved for 2018 higher than 2017 • A portion of Mt Cattlin lithium concentrate to be converted on Galaxy’s behalf into lithium carbonate and or lithium hydroxide • Galaxy to commence selling lithium chemical products to the end-user market in 2018 • Offtake arrangements to settle through Mitsubishi Corporation
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