Originally posted by whisky49
"A game-changer project had to wait for the judge to return from his month long holiday (so we are told). "
Perhaps you need to spend sometime in South America and understand the culture and then this wouldn't supprise you in the slightest...when you have one judge, holidays and backlogs expect very little else .
In the meantime the project itself didn't have to wait at all, it continued on with existing cash , work towards finding the best partner is continuous anyway , the only thing delayed was recieving the cash, which accrued interest in the meantime, the money wasn't needed and won't be untill any major construction starts...POSCO in the meantime have been proceeding with their plans as well and there is no guarantee they will be our partner anyway.
IMO it's highly unlikely anything would be different if they had received the money months ago, after all they knew it was coming.
The Company is after the best project outcome and that will take the time it takes and could be months away or could be today ...clear.png
"Galaxy has received several offers from potential strategic partners which are currently being evaluated in detail.
Negotiations continue to progress, so the Board has resolved to formally extend the process timeline to ensure proper consideration is given to the strategic merits and proposed terms and structures of each of the offers.
Given the superior quality of Sal de Vida as a long life, low-cost operation with excellent economics, Galaxy will only proceed with a strategic partner if the final terms of the relationship properly recognize the fundamental underlying value."
When you are dealing with projects that last year's getting it right is better than getting it quickly, we have a large amount of cash plus an income in the meantime.
The situation regarding Lithium is continuously changing as will the plans around producing it and we are seeing that with new processes emerging so caution could save a lot of money and time...
Strange as it may seem to some, the Company will be well aware of the issues related to producing Lithium and have zero interest in appeasing those who have shorter term aspirations..clear.png
Cheers Whisky
Are GXY in luck again with the timing of selecting the strategic partner for the SDV development.
There was no way for GXY to clinch a good deal for best part of 2018, now the tide is turning positive for lithium sector with Global X ETF rise above $30, improved SP of major suppliers and clearer visibility on lithium demand and oversupply scenario peddled by some has not eventuate.
AT may not be astute on project delivery, or communication, he seems to have luck on his side cutting deals or turning the company when he replaced Iggy - soon after the concentrate price rocketed.
Having said that, GXY did not performed to expectation compare to its peers and really need to raise their game to be competitive especially on the delivery and communication.
Deliver on time and as promised is the name of the game and better communication
