Conversation and response from Galaxy Resources, page-20

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shades2

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22/09/16

19:19

Post #: 19358087
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Originally posted by Endyne ↑

My other thoughts

Q: Why has there been delays in the shipment?

Many reasons but weather was clearly a very large one.

Q: Why is there a dive in SP:
A: This is mainly down to huge amount of shorting, but should be sorting itself out as soon as

Left us hanging there Shorting was not the only factor by a long shot. Maybe not even more significant than LCE spot price.

Q: When can we expect the DFS for James Bay
A: Mid to late next year, 2017

Surprising but also not. Don't they have to update us with this stuff when they know?? Trying to maintain SP and MC for funding purposes?

Q: We currently have 2 customers for the off take agreement via Mitsubishi, is there any plans to for getting further customers onboard?

Customers clearly beating the door down... If there is an oversupply it's going to be someone else's problem because anything we produce is clearly going to be contracted.

Q: What was you uptake on Macquarie’s report on the ‘over supply’ report

Interesting he was so blunt. Still not sure why Macquarie seems to have so much power and influence compared to far more reasonable and knowledgeable sources.

Q: Where do you see the SP benchmark when we start to ship in Dec?

I'm quite surprised he actually commented on this! Indicates management has an eye on SP and MC, possibly in relation to an FID for SDV early next year.

Thanks @xsol!

Expand

Yeah I'd say he worked back from expected market cap. Frankly, in Dec the market is pretty dead, we'll probably only really re-rate in Jan / Feb.

40c SP is 720M market cap, 50c is 900M. So you can see nothing is going to be earth-shattering between now and then, unless we drill through a gold nugget or something, and find a 100m thick 2% LiO2 deposit right under it.

Drilling IS part of hard-rock mining, so I expect that will continue.

Last edited by shades2: 22/09/16

GXY Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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Conversation and response from Galaxy Resources, page-20

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