Banter and General Comments, page-9294

Nice one. Yes it's good to keep powder dry, don't want to run out of ammo, in case those 'generous' bankers offer some new record low prices to us. Sell column below $1.20 was very very thin yesterday. Still quite low volumes so it's good to be vigilent..They might try spring a shock out of nowhere.

We definitely have the advantage. I wouldn't want Pilbara's liabilities..nor likely big share dilution as you mentioned. For the first 8 months of this year we berated the fact that Galaxy's SP had been constantly smashed disproportionately lower than our peers ORE & PLS. That has finally swung around this month..especially this last fortnight. While we have hundreds of millions $ cash we're in a powerful position and maybe Mr Market has started to appreciate that. ORE are heavily exposed to geopolitical drama in Argentina..crazy to underestimate that..and PLS have big headaches right now.

Near term the focus will be on how good our deal-making pans out here in W.A. Opportunity is here to get some diversity locally. Mount Cattlin L.O.M. has been extended and our operations have been optimized..next task is to take away the bankers' criticism of GXY being a one-trick pony..buying a bit of diversity at home (on the cheap) kills 2 birds with 1 stone..and I'm happy to wait for sentiment towards lithium to inevitably turn (by new year) for us to nail the right offer by JV partner for SDV..then James Bay..one step at a time. Our competitors/rivals are going very cheap right-now..and the pressure's on them..not us. Most important thing is to ensure we have sufficient funds to enjoy buying at whatever the bottom is..including our own SP