Ann: Multiyear offtake extension executed, page-5

The best thing about this announcement is that Simon has confirmed to the market the company will sell another 130k of spod this calendar year.  The key extracts are:

"Yahua to purchase another 30,000 dmt during the remainder of 2020"

"This extended offtake arrangement with Yahua supplements Galaxy’s existing spodumene concentrate offtake agreements with:
 Meiwa Corporation (Meiwa) for 55,000 dmt (+/- 10%) per annum of 5.7% spodumene concentrate up to 31 December 2022 on a take or pay basis; and
 Yi Chun Yin Li New Energy Co., Ltd (Jiangte) for 45,000 dmt (+/- 10%) per annum of 6% Li2O spodumene concentrate in 2020 and 60,000 dmt (+/- 10%) per annum of 6% Li2O spodumene concentrate in 2021 and 2022 on a take or pay basis."

This should silence the doubters - especially those questioning GXY's cashflow generating capbilities in the near term.  130k of spod sales this year equates to US$54 - $78m in revenue (US$420 - $600/t).
At the same time, they will deliver a pilot plant operation at SDV and will have circa 2k t of LCE to sell as well.

Things should start getting interesting soon with the shorts. The sooner they come to the realisation that GXY has sufficient cashflow from Mt Cattlin and sufficient funds to deliver stage 1 of SDV and all WITH NO DEBT, the less losses they will suffer. But hey, who cares about the shorts???