GXY 0.00% $5.28 galaxy resources limited

Ann: Sal de Vida Update, page-162

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    Hi All,

    This, (below) is what is circulating around via the media.

    This type of information may promote Galaxy and the company"s quality, lithium future in Sal de Vida.

    This genre of advertising in turn may also assist in providing a positive sentiment in regards to influencing the market in lifting the share price?

    "Australian lithium miner Galaxy Resources has revealed it is weighing several offers from potential partners interested in buying a stake in its flagship Sal de Vida lithium and potash brine project in Argentina.

    The ASX-listed Galaxy has been seeking to offload a stake in the project, and in August said it had shortlisted seven firms as potential strategic partners, some of which included Chinese companies, lithium end-users and businesses seeking to enter the lithium supply chain.



    Galaxy’s Sal de Vida has the potential to generate revenue of around $354 million a year, scaling up to 25,000 tonnes a year of lithium carbonate and 95,000 tonnes of potassium chloride, the company has said.


    In a statement to the market on Monday, Galaxy told shareholders the board had decided to extend the original timeline set in order to evaluate the multiple bids.

    It would proceed with a strategic partner only if the final terms of the relationship properly recognised the “fundamental underlying value of Sal de Vida and the partner can add additional value to the project”, the company said.

    Galaxy struck a $280 million deal in August to sell a tenement at Salar del Hombre Muerto, also in Argentina’s so-called lithium triangle, to South Korean steelmaker POSCO, and said it planned to use the funds to develop Sal de Vida.

    The search for a development partner for the project remained a “near-term catalyst”, resources analysts said.

    Galaxy on Monday said it would advise investors as the strategic process progressed, and would continue to develop the project “in the short term”.

    Galaxy shares closed 2.2 per cent lower at $2.18."

    Sydney Morning Herald. (31-12-2018) Bidders circle stake in Australian miner Galaxy’s lithium project.
    disallowed/business/companies/bidde...galaxy-s-lithium-project-20181231-p50owy.html
 
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