Galaxy Resources (GALXF)

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