I'd say that would have been happy with their business dealings with Galaxy, they doubled the resource size not long after and discovered that it would have a 50 year life rather than the initial 20.
There is a big difference between conventional lithium production from brine and the POSLX process, in that of the recovery being more efficient and effective. So perhaps this is something that has helped them to increase their production life
A40 wise, maybe there was not the 11 or so offers that the Administrators represented. Or maybe there were but they were just not in the game so a resolution is not far off. But with that said, what if POSCO was interested and wanted to partner with Galaxy there also.
There would be no need to wait and see if Pilbara will be able to build stage 2.
In the 2019 Q2 release it said:
POSCO is currently discussing LOIs for long-term sales with multiple customers, and some of them have been signed up, as the company is able to supply 65,000 tons of lithium annually in the next few years.
and at this stage they only have 1 plant that will be producing 1000tpa.
Waiting on Pilbara is risky as they haven't done what they said they were going to do. This is something I am sure these guys at POSCO will have also observed and might be feeling a little uncertain as to if Pilbara can ever deliver.
GXY Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
