Ann: Final Offtake Signed Prepayment Received,GMM-GXY.AX, page-232

I was pretty disappointed that the thread closed because I took some time to reply to some of the posts.

I have edited it now, but overall it should make sense.

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What was the comparison used for determining that PLS have a larger deposit than Galaxy?

I have always found this perspective interesting when the comparison is between two companies.

If we are discussing two companies we need to weigh up their entire resource.

At this stage what we do know is that further exploration is being done at Mt Cattlin by GMM. Galaxy didn't focus too much on establishing the total resource, they picked a point that was enough and was happy to proceed. At the time they were moving with Jiangsu and trying to process themselves and the amount of resource was going to last many years anyhow.

James Bay still needs to be explored further. What we do know is the resource estimate goes back to Lithium One's ownership. You can see how large the resource is in this picture and is so abundant that it could be mined with a team of forklifts and that's before any further digging and examining what is under surface is done.

James Bay is a hot bed for lithium projects right now, most of those companies do not carry with it the same level of experience as General Mining and Galaxy Resources and I have been told that there is a possibility that there will be larger resources than anything we have seen in Australia.

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Then there is Sal De Vida which will be in time or just behind Piblara's magic mine with 25kt of lithium carbonate and hydroxide which are selling at prices exceeding $20,000 USD per tonne, plus it will also produce some potash for extra funds.


To compare Pilbara with General Mining and Galaxy Resources previously and even now is just not in the same league let alone ball park and I am sorry, but it is simply becoming a joke.

Pilbara have a big resource but they will be forever just mining rocks and hoping to hit the $1000 usd per tonne at whatever annual TPA rate is decided in the DFS.

By the time Pilbara start selling some rocks, Galaxy will have 3 mines up and running or close to completion, the income will be of various dollar values that exceed $600 by many multiples and we don't even know what other projects and enhancements to the company might be picked up along the journey.


There is going to be an ongoing slap fest as Galaxy Resources and General Mining continues to grow whilst the reality of a long wait for return at Pilgangoora becomes more and more apparent between now and 2018/2019 for Pilbara leaving a lot of investors red faced and from what I have read wanting to sue various people like children that simply cannot get there way.