Ann: Galaxy awards Mt Cattlin Mining Contract, page-24

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hermans

368 Posts.

22/11/16

13:53

Post #: 20792843
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Originally posted by RED328 ↑

Planned Milestones – Period Ending 26 November 2016
 Maintenance rectification of operational bottlenecks (Sunday 13 November)
 Analysis of Li2O and mica concentration in initial production stockpile
 Complete continuous 10-hour production run with no operational or maintenance downtime
 Implement onsite Li2O and mica analysis
 Commence 24-hour continuous production
 Optimization of lithium concentrate specifications
 Begin trucking of lithium concentrate to Esperance Port
 Optimization of lithium yields
 Continue with minor punch list items

The way I read todays announcement is that all milestones to date are being or have been met,
Importantly 24 hour production, and we may even have shipped Lithium to Esperance port.
The announcement is bullish in that they have appointed contractors for mining and blasting.
This would not have been done if there were delays or plant production problems.
They had a stockpile to process and are most likely smashing through this.
Perhaps someone has contacts at Esperance Port ???

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I second that. There must be Hotcopernickian in Ravensthorpe who is keeping an eye on what's going on?

GXY Price at posting: 36.0¢ Sentiment: Hold Disclosure: Held
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yanlin

6,498 Posts.

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22/11/16

13:53

Post #: 20792846
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Originally posted by Kablooey ↑

If your question is how our good operators Cientini and son will be paid, does it really matter? A cost is a cost a cost a cost... and that cost of course is the famous mister green.
Unless by your ??? you indicate some incredulity at the fact that we will pay them for their service, which is critical to our business?
If we have no bullets in our six shooter then yes we would offer them shares, I guess.
I've often tried to pay for things by flashing my ankles but sadly people need to put fuel in their diggers and food in the tummies. (background in limited access excavation from Sydney here ).
Perhaps some of our erstwhile promise makers will use some of their options or held shares if necessary? ahem 'management will kick in a few bob' to get us through the night...
To me it is yet another baby step, with our little monster ever so steadily making its way to the milk, and we all know what happens after we learn to walk and fetch our own milk!

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Haven't we got a $31m facility that can be used for working capital items such as digging big holes???
What's the problem??
Why do we need to issue shares to fund operating costs when management already have a facility in place??
As they say: you need to spend money to make money!!!

GXY Price at posting: 36.0¢ Sentiment: None Disclosure: Held
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Ann: Galaxy awards Mt Cattlin Mining Contract, page-24

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