For those that can't wait: Australia 6 August 2018 POSCO...

For those that can't wait:

Australia
6 August 2018

POSCO TRANSACTION AHEAD OF SCHEDULE

Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) refers to the announcement dated 28 May 2018, where it advised that it had entered into a non-binding agreement with POSCO to sell a package of tenements located on the northern area of the Salar del Hombre Muerto in Argentina, for a cash consideration of US$280 million. The tenement package is situated to the north of Galaxy’s world class Sal de Vida Project (“Sal de Vida” or the “Project”) in Argentina. This non-binding agreement was conditional on completion and
execution of definitive documentation and receipt of POSCO approval at their upcoming Board Meeting, the date of which has now been set ahead of the anticipated schedule. It is intended that definitive documentation will be executed immediately following this final Board approval.

The Company advises that the timetable for completion of this transaction is now ahead of the previously disclosed schedule Following the completion of this transaction, Galaxy will retain 100% of the tenements in the southern area of Salar del Hombre Muerto in Catamarca Province, which were included in the recently announced updated feasibility study for the development of the Sal de Vida Project. The southern tenements contain 100% of the current 1.14 million tonnes LCE of JORC compliant reserves.

The proceeds from the transaction with POSCO will be available to progress the development of Sal de Vida in Catamarca Province and places Galaxy in a strong financial position to progress the planned development of the Project.

The Company will continue to keep the market updated as transaction milestones continue to be achieved
ahead of schedule.