“Galaxy has been a minority shareholder of Alliance for some time, and we welcome this opportunity to increase our holding and become the largest individual shareholder in Alliance.
Galaxy recognises that the Bald Hill Mine produces high quality spodumene concentrates and believes that the tenements surrounding the existing Bald Hill Mine operations hold substantial value potential, that may be unlocked through further targeted exploration and work on resource delineation.
“We look forward to cooperation between the two companies, and sharing our Mt Cattlin experience with Alliance.”
Great that the producers, are finally confirmed to be in an Alliance, and recognising the experience, and financial advantage, that each of these companies management’s can bring to the other, to unlock further potential and value, in what will be a burgeoning sector.
This statement by Martin Rowley, hints at cooperative synergies; an interest in the tenements surrounding the Bald Hill Mine, and the unlocking of substantial value potential through further targeted exploration activities.
I can understand why Management were keeping the details of the first transaction confidential, and attempting to stay under the radar for a while. It may have been a requirement by all of the parties involved.
A bit difficult to do, as there seems to be underlings lurking in the shadows, and ready to report every little thing they hear, to the mainstream media.
With future announcements released in time, the advantages to Galaxy, of becoming a substantial stake holder in Alliance, will become clearer.
It may enable Galaxy’s current shortlisted parties, as part of the ongoing SDVprocess, to cement an image of management, as being a proactive force, and not ones to be taken advantage of, in what has been a beaten down sector for so long.
In the meantime, in view of no decision made in regard to SDV strategic partner, management clearly looks to be getting on with exploring other options, and investing in companies, with mutually beneficial aims, goals and directions, to get their products to market in shorter time frames: due to exploring alternative tech methods, downstream processing, and in the process of improving, and upgrading the quality of their resources, with the aim of being quality producers of both carbonate and hydroxide; whatever the market needs as demand continues to accelerate over the next several years.
Go Galaxy!
GXY Price at posting:
$1.62 Sentiment: Buy Disclosure: Held
