It is anticipated that the new Galaxy Board will be further...

It is anticipated that the new Galaxy Board will be further strengthened with the appointment of new directors to add international technical and financial experience and expertise. -

WHY? Aren't the current board members up to it?


General Mining Corporation’s primary assets are the right to earn 50% of the Mt Cattlin spodumene project (from  Galaxy) in Western Australia, and an option to earn  50%  of  James  Bay  spodumene exploration project in Quebec. Canada. At Mt Cattlin, General Mining’s remaining earning milestones include  the  payment  of  A$18m  in  cash  consideration  to  GXY,  having  spent  A$7m  in  restart  capital prior to the commissioning of the operation in Q12016. At James Bay, General Mining has the option to earn 50% through USD$5min exploration expenditure over 3 years.

So what GXY sold to them is now worth more or has GXY regretted the initial sale?

The  Company  (GMM) also  holds  title  to  a  range  of  gold  exploration  tenements  in  the  Murchison  region  of Western Australia.

What are they worth?

Seems to me the GXY share price was driven down by those in the know to benefit GMM!