Hi all
I agree with the comments that Galaxy are slow and thin with the updates but we can’t forget what stage they are at. They are positioned well ahead of other lithium newcomers with strong networks from their jiangsu days and management team
Also, the lack of fluff announcements to “support” higher share prices indicates two things to me:
- Management are focussed on the job
- Management are not seeking to raise capital or introduce large equity partners in the project (minimal dilution to shareholders)
Look at the full year report and remind yourself that AT has plenty of skin in the game. But he’s focussed on building that value not propping it up
As others have pointed, Mt Cattlin is very profitable and a comfortable support for our current MC. SdV and JB are imo hardly factored in. Cash from Mt C could easily support most of the development of either SdV or JB with minimal debt financing or prepayments. This puts gxy in the drivers seat for negotiations- they are able to wait out for the best deal instead of a deal. Just because there hasn’t been an announced deal doesn’t mean we haven’t had as favourable deals (as other lithium companies) come across the table from downstream, simply means gxy management believes they can do better. Again, gxy is well positioned to get a good deal
And short numbers imo aren’t indicative of bad times for the company, just that some people are taking advantage of gxy taking its time when compared to other companies.
Interesting the spend in Canada vs Argentina... significantly more at James Bay which indicate to me that that is the focus... perhaps due to shorter time to get online? Or permitting delay (non-issue?) at SdV? Someone feel free to correct me. Perhaps our client base are familiar with and prefer hard rock as it is simpler to convert to hydroxide which appears to be choice chemical.
I think the March qtr results will be very telling and a boon for the entire sector re increased pricing. Imo one of the safest lithium companies right now. My two cents and looking forward to the next report
