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Number one stock as far as performance this year for me. I'm up 102% in 7 months. Still lots of upside since the demand for lithium will be skyrocketing and there is a tight supply. You may want to look at Altura Mining which is extremely under valued IMO.
With many car makers going to electric, lithium is in crazy demand. This one is a 5.00 stock by Years end.
Very solid 50% plus stock.
Thanks, I briefly read it and it looks very promising. I agree that the SP should move north.
Galaxy released Activities report period ending 12/31/2017. Too many good things and encourage you to read same. I expect share price will go up in the morning.
Ha ha, yes it bounced back from yesterday’s drop and I am quite happy it did. I hope it continues going up next week and beyond. I have doubled my money with Galaxy since I bought over one year ago. I may sell a few shares here and there (10%-20% max.) but I plan to hold most of my shares for the long haul.
BTW Etailer, I noticed we also share at least one more lithium stock as well as a non-lithium green stock you often comment on. Good luck with all your investments!
No but I'm really tempted to start flipping this stock with these swings
What drop? I'm seeing us up 6% in the green
Yes galaxy has very strong fundamentals and remains one of the best ways to get a piece of the lithium bull market
I agree that these are the most probable reasons. I know it is disappointing, but I recommend to hang in there because the news from the company are very good. The SP may go a bit lower, but I am sure it will bounce back soon.
Good luck!
Profit taking, liquidity testing, shorting to activate stops to accumulate lower, bad news leak , are the possibilities I can think of .
Any theories about the reason for today's big drop?
Despite the drop today, I remain confident with this investment. It is possible that it may retrace further, but It will bounce back strongly soon.
My lower prediction is for the next few weeks, but I agree that $5 or $6 can be achieved before summer.
Good luck!
I am hoping it will see $5-6 over the next few months.
I has been on a tear lately, I just wish I would have bought more at $1.60
I think GALXF has the legs to reach at least $3.6 before any retracement, but the $4s would be even better. Looking good!
Yeah. South American Lithium Mines beast day.
Sector breakout!
So if we get to 4 dollars USD we're gonna get listed on NASDAQ? What happens when GDX gets 4 dollars AUS?
Maybe Galaxy start selling lithium to vape producers.
GALXF looks primed and ready for a large move upward. Just need about another 5 cents upward to set off the early alarms.
Finally seein some green on here again boys.. Hoping we have a great year!
Pot has been blowing up. I bought Canopy Growth a week ago for a killer 35%
profit. Bought Aurora last week for a huge profit too. Would have loved to get into this a year ago.
GALXF breakout out here! LIT breakout out as well. This could be fun. 1 of 2 only non-pot related stocks I own.
Great analogy! Happy New Year to all from beautiful Hawaii!
Monolithium!!! Awesome One!!! Most of the solid junior lithium mines saw 100%+ gains in 2017. What a year! It seems they have settled down into this holiday season. After such gains it's probably good for a little cool down period. However, I think 2018 is going to go bonkers for lithium mines. I think we see a repeat year of 100% gains, maybe more for some of them. The world demand for EVs is surging, and that means lots lithium. China is leading the way, but you can also see it in Norway(30% of all new vehicles are EVs now) and other European nations. Mega investments by the automakers as well and just wait until Tesla irons out the kinks in their robotics for mass production of the 3 series.
Monolithium...I like the sound of that! Thanks for the reply. See if we can get a sector liftoff from here.
Hi Monolith. Yes. I think any of these junior mines are good. Galaxy is already mining and has several other reserves for future mining. They have the potential to become a Monolith in lithium mining . They are priced pretty high right now so they will need to continue to execute but long term very solid.
Hey, I know you. This a good one? Just made initial purchase off chart look. LIT looks ready for more upside.
I think 2018 will be as good as 2017 which was amazing !
We will be rewarded soon!
finallt back a 3.00. Its looking good now. I saw that it dipped pretty low. but looks like its back on track for a proper climb. let's see if it break through this 3.00 resistance line.
Hi Renix,
I want to tell you that I feel your pain because I am going through the same thing. Etailer and Retired alluded to profit taking and the holiday season as possible causes for the drop in SP and I don’t disagree with them. However, I think that that the lower SP is also due to manipulation schemes to get stocks out of weak hands as I mentioned in my previous post. I do not have proof for this, but it is the only way I can explain the substandard SP performance despite of the recent huge announcements from Galaxy. I also believe in this theory because I have gone through this type of situation several times in the year and a half that I have owned Galaxy. It got very frustrating at times but eventually paid off every time. As others mentioned, I believed in the company’s fundamentals and I remained patient until I was rewarded. I also bought Altura and Orocobre, and I think I owe part of my success to the combination of lithium companies I own. I am currently diversified in 5 lithium companies producing or close to production, which I may reduce to 3 or 4 companies at some point. I think others in this and other lithium forums follow a similar approach. Galaxy is currently my biggest holding and I plan to hold on to it. I see it as the most fundamentally sound lithium company in my portfolio, even though its most recent performance has disappointed me. I also believe that the factors that are pushing the SP down will soon decrease to allow the SP to rise to the much higher levels it deserves.
I do not know if this helps, but I just wanted to express that I very much identify with how you feel and I also wanted to share with you how I choose to deal with this situation.
I wish you the best with your investment decisions.
This is really annoying me. Good news and it just cycle back down to 2.70 then back to 3 then back down again. I could be making so much more money on cryptos right now but people keep saying to be patient.
I did quite a bit of research on Northern Graphite and its the only graphite mining company that I own.
NGC: TSXV
Capital Structure NGPHF
Shares Outstanding 59,817,612 Options 3,975,000 Warrants 4,621,166 Fully Diluted 68,413,778 •
Approximately 12% F.D. owned by management and insiders •$2.5 million in cash, no debt
If I recall the share structure for NGPHF looked pretty good too.
http://northerngraphite.com/
I took a position on NGPHF also. Elon Musk said "ELON MUSK: OUR LITHIUM ION BATTERIES SHOULD BE CALLED NICKEL-GRAPHITE". That what motivated me to buy.
December is a profit taking/selling month so maybe wait till end of December.
I'm watching OROCF been dropping the last few days, looking to buy sometime this month.
I own GALXF, AVLIF and NGPHF at this time.
Nice update. I would say that this is one solid lithium play and a good time to buy on the dip. I believe we are seeing some profit taking due to the huge run up this year.
By: ABN Newswire
December 04, 2017 at 11:25 AM EST
Galaxy Resources Limited (ASX:GXY) James Bay Major Resource Upgrade
Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) (OTCMKTS:GALXF) is pleased to announce a significant mineral resource upgrade resulting from the 2017 drilling campaign at the James Bay Project in Quebec, Canada.
Highlights
- Significant increase in the mineral resource to 40.8 Mt @1.40% Li20, all classified as Indicated (JORC 2012)
- Current mineral resource is west of the James Bay Road and it remains open to the east and in the west at depths greater than - 335m below surface
- Numerous untested pegmatite's outcrop and sub-crop elsewhere within the claim area of the project
- Metallurgical test work for process design already well advanced in Perth, Western Australia
- Further drilling for infrastructure sterilization has commenced
- Mine design and planning work has been awarded to Mining Plus
- Feasibility Study preparation ongoing, upgrade of resources to reserves expected in H1 of 2018.
The current JORC 2012 recoverable mineral resource is reported below in Table 1 (see link below), as is the prior mineral resource in Table 2 (see link below). Factors used to demonstrate "reasonable prospects for eventual economic extraction" are listed in Table 3 (see link below). The mineral resource estimate was completed by SRK Consulting (Canada) Inc. who are independent of the issuer for both JORC 2012 and Canadian NI-43-101 reporting standards. Additional reporting to the Canadian standard is mandatory in Canada for project development.
Reported at cut-off grade of 0.62 % Li20 and within a conceptual open pit shell formulated to demonstrate "reasonable prospects of eventual economic extraction as tabulated (see Table 3 below). All figures rounded to reflect the relative accuracy of the estimates. Mineral resources are not mining reserves and do not yet have demonstrated economic viability.
Reported at cut-off grade of 0.75% Li20 and within a conceptual open pit shell formulated to demonstrate "reasonable prospects of eventual economic extraction" with factors as tabulated (see Table 3 in link below).
Galaxy Resources' Managing Director, Anthony Tse said the increase in resource confirms the James Bay project as a world class hard rock lithium asset, as highlighted by the grade, quality and scalability of the deposit.
"One of the key attributes of the James Bay project is that due to its high grade, scale, low stripping ratio and superior location, it will be one of the lowest cost hard rock lithium projects in the world. The pegmatite system is substantial in size and the deposit remains open at depth and also open to the east, which offers significant potential for growth, both in terms of the resource and ultimately future ore reserve."
Additional ASX disclosure - Material Changes to Mineral Resources (Section 5.8.1, Chapter 5 ASX listing rules)
Geology and geological interpretation
The spodumene-bearing pegmatite bodies of the James Bay project are irregular dykes up to 60 meters in width and over 200 meters in length. The pegmatite intrusions generally strike south-southwest dipping moderately to the east-northeast (215deg/60deg).
Based on core drilling data, surface geology mapping, and outcrop channel sampling provided by Galaxy, SRK created a three-dimensional model for the main pegmatite dykes. The bodies were modelled from logged pegmatites, not Li2O grades, as implicitly derived intrusions or vein contact surfaces in Leapfrog Geo software (version 4.0.1). The resulting geological model incorporates 18 pegmatite dykes. Sixteen pegmatite bodies were created as intrusion contact surfaces with a spheroidal interpolant. Two smaller pegmatites (550 and 850) were created with the vein modelling tool within the boundaries defined by hanging wall and footwall surfaces.
SRK also modelled the overburden material, consisting of glacial till, using the logged drill intervals and mapped outcrops. The three-dimensional model is clipped to a topography surface created from a Lidar survey provided by Galaxy.
Sampling and sub-sampling techniques
The maiden 2010 mineral resource had been based on 14,457m of diamond drilling and 201.3m of horizontal channel sampling, from 102 drill holes and 45 channel samples. This updated mineral resource estimation is supported by an additional 33,339 m of NQ core drilling in 157 diamond drill holes. (see Figures 1 and 2 in link below). All sampling is half NQ3 sized core. Sample lengths average at 1.290m. A total of 9,194 assays were completed by ALS Canada by the Li 0C63 Open Beaker method. An additional 1,093 standard and blank assays were submitted with the sample stream. These include 514 duplicates and 513 blanks. Results for check assays between ALS and SGS have been received.
Mineral Resource classification criteria
SRK is satisfied that the geological modelling honours the current geological information and knowledge. The location of the samples and the assay data are sufficiently reliable to support resource evaluation. The sampling information was acquired primarily by surface channel sampling and core drilling on sections spaced at twenty-five to fifty metres. The eighteen modelled intrusive pegmatite dykes were investigated by several boreholes providing sampling to approximately twenty-five to forty metre spacing. Most pegmatite dyke domains have been sampled by a sufficient number of boreholes to model the spatial variability of lithium oxide. Accordingly, all block estimates within the conceptual pit shell have been classified as Indicated.
Sample analysis
All samples were weighed, crushed and pulverized at ALS Canada. These were processed at ALS Val d'Or located at 1324 Rue Turcotte, Val d'Or, QC, Canada. Methods used were CRU-31,CRU-QC,LOG-21,SPL-21,WEI-21. Samples were processed at ALS Vancouver located at 2103 Dollarton Hwy, North Vancouver, BC, Canada. This is a four-acid digest method. This is analysis for lithium ore grade by method Li- OC63. This assay is for ore grade Li by specialized four-acid digestion and ICP-AES finish, with Li-specific CRMs. It is best suited to Li-bearing silicate sediments. Li range is 0.01-10%. The method precision is 5%. Assays are within expected tolerance. Umpire assaying has been completed.
This method is suitable for analyzing lithium in geological samples. A ~0.4g sample is first digested with three acids (HCLO4, HF, and HNO3) until dryness. The residue is subsequently re-digested in concentrated HCL, cooled and topped up to volume. The samples are analyzed for Li by ICPAES spectroscopy.
Estimation method
The evaluation of mineral resources involved database compilation and verification, construction of 3D wireframes, the definition of mineral resource domains, sample compositing, capping, sample statistical analysis, block modelling and grade estimation; grade validation, mineral resource classification and mineral resource tabulation.
Estimation was by geostatistical methods with hard geological domain boundaries. Block modelling (10 x 3 x 10m block size) was informed by variography and sample composition using ordinary kriging methods in octant search. Block modelling was validated by nearest neighbour and inverse distance methods.
Cut-off grade and the basis for cut-off grade
The cut-off grade (COG) applied is 0.62 % Li20. The COG is based on metallurgical test work that requires a head feed mineralised to support beneficiation to a spodumene product at grades and qualities that meet market requirements.
Mining and metallurgical factors
Material modifying factors have been applied to demonstrate "reasonable prospects of eventual economic extraction" by open pit, drill, blast, truck & shovel methods. Process recovery is planned to be by crush, optical sort, deslime and DMS recovery at a 2Mtpa (million tonnes per annum) throughput. Factors applied are tabulated (see Table 3 in link below). Mineral resources are not mining reserves and do not yet have demonstrated economic viability.
ABOUT THE JAMES BAY PROJECT
The James Bay Pegmatite swarm is located 10km south of the Eastmain River and 100 kilometers east of James Bay. The property is accessible by paved road from the James Bay Road which cuts through the property close to the 381km road marker on the highway Route/109 from Val d'Or, Quebec, Canada. Val d'Or is approximately 526km westward from Montreal, Quebec. A large, multi-service truck stop is located at marker 381. Discovered in the 1960's and then known as the Cyr property the site consists of a swarm of 33 pegmatite dykes that belong to the rare-element 'class', the LCT (Li-Cs- Ta) 'family' and the albite-spodumene 'type' per the classification by Cerny (1991). Two new major pegmatite dykes have been discovered in this current campaign as well as smaller swarms eastward of the known extents. The mineralised pegmatite is open at depth and to the east. The lithium bearing mineral contained in the pegmatites is spodumene LiAl (Si2O6), a member of the pyroxene group of minerals. The pegmatite swarms have dip direction ~N 125 degrees E., dip steeply at ~60 degrees and form a corridor of discontinuous dykes about ~4km in length and ~300m wide. This outcrop is to about 15-20m above the surrounding muskeg/swamp.
This phase of drilling and mineral resource estimation is complete. Feasibility studies are ongoing and the James Bay Project Notice has been submitted to both the Federal Government of Canada and the Quebec Government for determination.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/D09FLNU8
About Galaxy Resources Limited:
Galaxy Resources Limited (ASX:GXY) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.
Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.
Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.
Media Enquiries (Australia)
John Gardner
Citadel-MAGNUS
M: +61-413-355-997 or
T: +61-8-6160-4901
E: jgardner@citadelmagnus.com
Media Enquiries (International)
Heidi So
Strategic Financial Relations Ltd
T: +85-2-2864-4826
E: heidi.so@sprg.com.hk
Contact:Corporate
Nick Rowley
Director - Corporate Development
M: +61-455-466-476
T: +61-8-9215-1700
E: nick.rowley@galaxylithium.com
Galaxy’s SP is not reacting despite the recent great news (new contract for Mt. Catlin mine in Australia and the new resource estimate for the James Bay mine in Canada). I consider this to be my lithium stock with most solid fundamentals (advanced operation, making lots of money, little to no debt, great resources in 3 continents, mine, both current mining and future brine, etc, etc., etc.). So why is this stock stuck? In my opinion and that of many others in other forums, it has to do mostly with manipulation by institutions to lower the stock so they can buy lower. I think this is the main reason, but there may be others (shorting, weak hands panicking, etc.). To Make things worse, most lithium stocks in Australia are down today and Galaxy (GXY) is no exception.
It is disappointing, but I am a firm believer that things will turn around soon. We just need to be patience and let the instos accumulate. This happened a few months ago but the stock then rocketed up. It will be no different this time. I just know that I will keep accumulating.
Good luck to all
Sorry for the previous blank message. I was going to say that Galaxy just gave a new announcement about a resource upgrade for their Canadian mine in James Bay (40..8 MT @1.4% Li). I only read the headline because I need to catch some zzzzzzzs.
Can somebody tell us details.
Thanksyo, good luck and good night
I have held Altura for over one year and have done quite well with both Altura and Galaxy, who is my only. Lithium producer but Altura will join them early next year. I also have a few junior miners that I have certainty will produce in 1-3 years.
Good luck!
I did take a sizable position in Altura Mining. They seems to have a lot of upside potential and is priced pretty low right now.
Ya know that feeling when you think you are late to the party but you're actually one of the first ones? Lithium heaven baby. We have arrived.
Yes it is very disappointing, but I believe that is a case of stock manipulation. I have been reading in a HotCopper that large institutions are lowering the stock to buy more at low prices from weak hands. Shorters may also be contributing even though the percentage of shorters has decreased lately. I am not surprised since we went through this earlier this year, when manipulators were able to lower the stock despite the good news, increased productions and profits. I am not worried either, becse the stock will eventually shoot up due to its excellent fundamentals, just as it did a few months ago. Patience will pay off.
The new contract is beyond huge. Galaxy was able to sign contracts with several Asian big fish companies probably in China, Japan and Korea. This is harder to accomplish but it is much better than contracts with single companies that other miners have signed recently, because it provides better leverage, safety and diversification for Galaxy. Mitsubishi continues to be involved as an agent to protect Galaxy interests. The prices for 2018 are better than the current races, and future prices are negotiated on an annual basis, which bodes well with the likely increase in lithium prices expected for several years. This is much better than locking the price for 5 years. Finally, there are provisions for Galaxy to use spodumene in carbonated hydroxide converters (perhaps Nemaska, or Lepidico?).
The new contract, the increased production, the lower cost and tthe increasing lithium prices should result in a 5-year profit in excess of $1 billion. This great profit should allow Galaxy to develop the even better assets in Argentina and in Canada. Canad’s mine is the perfect location to supply lithium to North America’s auto makers and perhaps Europe. The mine is bigger than the one in Australia and easier to mine from. Argentina provides the alternative cheaper way of extracting ithium from brine. It can export lithium anywhere. These two resources are perfectly positioned to produced heaps lithium in a few. Years, which may bee the perfect time de the scarcity of lithium expect next decade.
The above is IMHO and DYOR.
Good luck to all of you invested in junior lithium miners that produce like Galaxy!
Not sure what to make of this, Great news on this huge contract and yet the stock is going down a little. Maybe no ones knows about the good news but us lol.
Tesla's new Semi-Truck will change the face of trucking in the future. 500 mile range, 80,000 lbs to 60 MPH in 20 seconds. Cost to operate $1.26 per mile vs. $1.51 per mile for diesel. If they run in a convoy using each other draft price per mile is $.85 which is cheaper than rail. Tesla will be working on building a nation wide recharging network here in the US.
Imagine all the Lithium and Graphite this change in trucking would make.
There There are also a few countries that are going to outlaw sales of fossil fuel engines starting 2025 Norway, India 2030 Great Britain and France 2040. There are a few other countries that are currently working on initiatives Austria, China, Denmark, Germany, Ireland, Japan, the Netherlands, Portugal, Korea and Spain.
Future looks so bright for Lithium and Graphite that I have to wear shades.
...4x the lithium production. $100k/ton of lithium carbonate on the way.
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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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