@yanlin you talk about the sale to POSCO with great pride, and at the time any Galaxy investor was excited also as it was believed that this money was the path to production at Sal De Vida.
How much of that money is left, and if it was good enough to get Sal De Vida into production then how come the company needed to do a capital raising only a few months ago and dilute the shareholders?
From my calculations the company only had around US$75 million left, an absolute pittance of the US$280 million they received. ~27% left over... Where did the rest of it go??
Just one more point.... Have you seen the article that POSCO have increased the size of the Sal De Vida North resource by 6 times since its acquisition.
POSCO announced in 2020 that the lithium reserves in the salt lake were 13.5 million tons, six times more than the 2.2 million tons originally estimated at the time of acquisition.It would appear that POSCO have been focussing on unlocking value for their share holders from that transaction...
but in Galaxy's case what did the company do with the other US$205 million to unlocked more shareholder value...
Does Sweet F All come to your mind also?
