So many assumptions from one announcement.
AT had two jobs, CEO and MD. He's also sales and promoter/ negotiator. One person can't do that much work in a company with mines on three continents. Also, he can't be voted, basically he owns the business, he's part of the furniture. Martin and others can be voted out, Anthony can't.
Galaxy was basically broke under the old management with $200mil debt and $50k in the bank. The existing employees remain, by having a CEO from outside will change any of the old culture left. This allows AT to run the business. Simon Hays will be tasked to overlook the managers of three mines and day to day operations. There are two operation managers, there will be three, one at each mine.
Many assume SC6 is standard, its not. If the spodumene include other minerals that can't be removed or cost is high to remove, its useless. To increase production, extra equipments and labor cost must also increase. If a company doubles production its 2x equipments and 2x labor.
This company chose to optimize instead. Using the YOP, production increase 40-50% with a once off cost, labor and equipments remain the same. Waist cost also reduced.
The sale of N. Tenements which no one knew about, effectively added 2years of production profit to the books. In 2years MtC alone will have enough to pay for SDV. The total cost is $470m on completion, this amount is not needed at the the beginning. If SDV is modular in design, it will fund itself. The cash is enough to run operations for more than 2years. The total sales at end of year is important, the qrts are pointless, only monkeys on HC concern about.
Galaxy is basically discussing with serious bidders and giving the sparrow to others. With demand increasing 15-20% CARG, the price of chemicals have to rise.
Any company with 50% sold to the chinese is finished. The chinese will buy 1-2 % on market and take control. This happened to oil and gold miners, the lessons are never learnt.
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