Mitsubishi are no longer engaged as sales and middleman taking 5% commission.
That is one of the decent cost reductions put in place in Q4 2018.
They were brought in to handle the start up of operations, invoicing and contracts etc.
Now they're normalised, Galaxy staff can handle all that stuff.
I thought this was well understood when Galaxy took over handling their clients CIF (insurance and freight)
but billing clients for their shipping separately.
Galaxy report costs in FOB as this makes the most sense when dealing with multiple clients, potentially (or eventually) in different countries.
The royalty component is a $1.50AUD/per processed ton to Red 5 - now Lithium Royalty Corporation.
I believe that adds up to about $2-$2.5m a year.
DYOR.
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