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5.9¢ galena mining limited

Always lots of risk in these new ventures. Management did a...

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Beardy

2,444 Posts.

45

09/01/24

10:35

Post #: 71788797
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Originally posted by daicosisgod: ↑

That's a nickel price problem with the Indonesians in cahoots with China to drive the Ni price down, about 50% down over the last 12 months.

Galena has made its first debt repayment to Taurus on time, had a shipment in December and another shipment due out the end of this week. I reckon they are redoing cashflow forecasts based on hitting and potentially exceeding production nameplate. All of these are good news.

Let's see what the announcement says either tomorrow or Thursday.

Cheers....D

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Always lots of risk in these new ventures. Management did a great job in getting the project built but not enough spare capital to cover the bad news that inevitably occurs.
I think the major backers would be very happy to take this over.

G1A Price at posting: 5.9¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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