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Re: futrcash post# 599

Saturday, 06/13/2020 11:56:41 AM

Saturday, June 13, 2020 11:56:41 AM

Post# of 613
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.

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