Don't be shocked!, page-46

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stevenlala

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23/06/19

12:07

Post #: 39193439
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Originally posted by ljcamp: ↑

“At the bottom of the cycle you don't just purchase a little piece of every mine hoping that they will all survive.”

That is exactly what you do, when you know what China are trying to do! Power and control. They tried to low ball galaxy at SDV, they manipulated the sector for there own advantage but shutting down the converters to create a fake over supply scenario. FACT.

fck them. This is genius if it pans out that galaxay has purchased take over blocking stakes in 3 out of the

Aus hard rock producers off the top of my head:
GXY - 3 mines - 2 hard rock - 1 producing - 100% owned
PLS (already trying to sell 50%)
A40 (own 12%)
AJM (own 12%?)
ORE (no hard rock - also JV Toyota)
KDR (Non producer - already JV SQM/WES take over)

so perhaps this massive game of Chess that started way back when POSCO wanted a piece of North SDV for US$280m has just got a little bit more interesting....

After the offer for SDV JV where put on the table, galaxy board told the potential JV parters to go play on the hwy. Come back with a n offer the appropriately values the nature of the asset.

the lithium sector is off 50%+ since that point in time.

This has no become a war of attrition. The question I know ask myself, with a growing urgency for China to feed battery grade chemicals to meet surging demand, just how long can the converters in China afford to stay offline??? Tick tock, tick tock....

GXY has min us$350 per tone Margin at the bottom on the cycle, so time is of no issue, particularly now at $1.31 the damage to our market cap is completely factored in.

what happens if Yahua who have just come back on line rang Tony last Fri and said hey mate send us another 15kt of the good stuff from MC, we are locked and loaded.

ohhh and by the way we are going to need 30kt per quarter moving forwards.

DYOR

maintain strong buy.

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When China want to control some sector, they control it for a long time. Look at the REE and graphite.

GXY Price at posting: $1.31 Sentiment: None Disclosure: Held
2 Upvote

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Don't be shocked!, page-46

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