Galaxy Resources Ltd. (fka GALXF)

[tikotiko]

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