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GXY

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$5.28 galaxy resources limited

Ann: Final Offtake Signed Prepayment Received,GMM-GXY.AX, page-64

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Thesi

8,740 Posts.

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18/05/16

11:19

Post #: 17799519
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Originally posted by skribbler ↑

So I was thinking why would they need a trading halt for that. Then I read the announcement. They are only receiving half of the $18m? Why is this good? Its only 50% of what they were suppose to receive. One customer has paid and the other has not. It then goes on to say that discussions with other customer progressing after recent visit to MT Cattlin. What more do they need to discuss that made the customer need to visit Mt Cattlin?? They either want the spodumene or they don’t. Sounds like they are dragging their feet if you ask me. But then at the bottom of the announcement, it has a section about forward-looking statements which reads: forward- looking statements are only predictions and are subject to risks, uncertainties and assumptions which are, or may be outside of the control of GMM. Actual values, results or events may be materially different to those expressed or implied in this announcement.???? Is this other customer even going to go through with the deal?? Doesn’t sound like it if they had to put this statement at the end of their announcement let alone go in a trading halt for this announcement. I see they added in the announcement that has nothing to do with the payment that: Mt Cattlin is now the second largest producing hard rock lithium mine globally. This isn't new news. This happened back in March when they started up production. Sound like they added that in to take peoples attention away from what the announcement is really trying to say about only receiving half of their payment. Something to think about. Announcement should have read, Half final offtake signed. Half prepayment received. Title is misleading.

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The second buyer is biding time, or may be looking to agree to something else.

An upfront payment is a great achievement. GMM and GXY are just half way there and that's an exceptional start.

$9,000,000 US Dollar equals $12,333,751.56 Australian Dollar

$0 USD equals $0 Australian Dollar

Do you see the difference?

GXY Price at posting: 42.5¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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