GXY 0.00% $5.28 galaxy resources limited

Ann: 2020 Annual Report, page-20

  1. 8,739 Posts.
    lightbulb Created with Sketch. 2622
    Perhaps we need Alan Rule to create a profile and jump online to give us the low down. Hopefully questions about the company losses carried forward are asked by the analysts next Wednesday as I don't like to contact the company. Whilst as you say the financial benefit of the losses aren't something to sneeze at, the impact of them won't be realised until the 2021 annual report. Historically the company did talk about its carried forward losses but I don't see them doing it this time. Losses are that thing that is ugly generating them, but a nice to have when they can be used.
    I was reading a bit of Page 26/27 and one thing that makes it confusing reading Galaxy financials is that they report in CY to the market, but are bound to the Australian FY for taxation.

    Speaking of millions of dollars not to sneeze at... One thing that I have tried researching is the restoration of the tailings site at a former Lithium One Inc. mining site in Canada. Total cost ~US$6 million.

    It's currently under negotiation with the government, with the works expected to proceed later this year. It appears that the cost for those works have decreased since last year, possibly due to currency exchange changes? - I am curious what that asset was, as my understanding was that Lithium One was never a producing company, just a shell collecting a few nice lithium assets with some gold ones, and was only ever an explorer. - Does anyone know what asset it is that Galaxy practically 11 years on is being asked to restore the tailings site? It sounds absolutely absurd!
    Last edited by Thesi: 16/04/21
 
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