Ann: Quarterly Activities Report - December 2020, page-18

My favourite bit is the subtle change in format of the quarterly. Now, SDV is reported first and Mt Cattlin second.  A very important re-ordering that highlights the organisations priorities moving forward.  To that end, we are being primed for some imminent news out of SDV:
Expected announcement no. 1: Confirmation of BG carbonate production for stage 1 SDV
SAL DE VIDA, Catamarca, Argentina
Galaxy is de-risking Sal de Vida by adopting a simplified flowsheet, utilising mature technology and by staging development to smooth capital expenditure and accelerate earnings. Stage One is being designed to produce technical grade lithium carbonate through an evaporation and processing operation at the Salar del Hombre Muerto site. Development work aimed at producing battery grade lithium carbonate is ongoing and if successful the Stage One flowsheet can be easily modified without any delay to the project schedule. [My comment: I expect at some stage they will confirm production of BG carbonate with a small capex investment in the near future]
Project activities during the quarter were on plan and in-line with the schedule. The project is approaching completion of the design and piloting phase and results to date continue to demonstrate a highly competitive, high quality, low cost brine operation. FEED for the wellfields, brine distribution and evaporation ponds has reached 95% completion. The second FEED package for the process plant and non-process infrastructure is progressing steadily and has advanced to 25% completion.
Expected announcement no. 2: Completion of FEED packages and commencement of stage 1 pond construction
Expected announcement no. 3: release of the updated resource and reseve statement for SDV
Wellfield
Drilling During the quarter the drilling contractor mobilised to site and operational wellfield drilling commenced for Stage 1 brine production. Drilling remains on track with the first well completed in January 2021. The program will drill 8 production wells over approximately 10 months in the east wellfield. Two of the drill holes will extend approximately twice the depth of all prior drilling and the information obtained will be used to update Sal de Vida’s Resource and Reserve Statement, which will be released later in 2021.

There are others that I won't mention, but suffice to say will radically change the outlook for success of SDV.

Whilst the market may hit GXY today because of the Tesla result and the ORE result and the expectation of a supply glut (again), I view this quarterly report as a significant inflection point that will (retrospectively) be viewed as the time to load up on GXY as it one day becomes a top 5 lithium player world wide.

Well done, Simon and team!!