Congrats holders.
As of this week Galaxy is now the largest pure play lithium company in the world (and maybe universe?).
* The other 5 majors are all diversified in chemical industries that are not nearly as profitable.
We're also the 6th largest lithium company by market cap globally.
"Galaxy Resources(ASX:GXY) (OTCPK:GALXF)
Galaxy Resources earns 100% of its profits from lithium and is now the world's largest pure play lithium producer. They are a new producer, having re-started the Mt Cattlin lithium spodumene mine late in 2016. They also have the Sal de Vida lithium brine project in Argentina, and a lithium spodumene project in James Bay Canada. They are currently ramping up production at Mt Cattlin, and plan to produce from Sal De Vida by about 2019. Clearly a must have in any lithium miner ETF. You can read more on my latest article on Galaxy Resources here."
(that linked article quotes a target price of $2.32 by 2020)
The writer long on several lithium stocks but picks Galaxy as his number one for this reason
"A key here is that it takes usually 3-5 years to bring on a mine (land acquisition, drilling, feasibility studies, permits, licenses, construction etc.)"
GXY Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
