Ann: 2019 Half Year Results Announcement, page-53

I see a LOT of the usual fear mongering and FUD that we are all so accustomed too... but not to many actual FACTS.

So here are a few:

Barring one-off charges, Galaxy reported a net profit of $4.9 million.

Production costs have recently come down from the yearly average seen here.

Recoveries improving, quality improving, costs dropping.

Tax losses building up for the next run.

Inventory on hand with production cost already covered.

First ranking security over all assets of Alita

Cash of US$176.3 million and nil debt as at 30 June 2019 (the MOST important thing and reason others will fall, while GXY will excel long term).

Targeting 60-70kt of shipment volume in Q3 2019

----------------------

Not too shabby. There wouldn't have been too many thinking Mt Cattlin was capable of making a net profit, and with costs down far more than the Lithium price has dropped since the middle of the 2019 financial year, it looks like it will get better.

If management hadn't followed the path they did to reduce production costs and sell off the Northern Part of SDV, imagine where we would be... actually, just look around. Many in serious trouble, but not Galaxy.

Good work management, great foresight. And people have been claiming you didn't have shareholder interests at heart. Run for the exits! Join the "borrowed up" brigade they said... no thanks.

And we Long's were told we had led people looking for the best long-term lithium investment down the garden path... lets revisit that one in a few months shall we?