First there was a pause and now it's an entire stop!
So many possibilities, but as was pointed out looking at the simplest one makes sense.
Perhaps Monday is the court discussion with the judge of Salta and it's pending the results of that.
Though I have a gut feel there might be more to this. I might not be right but there are many options/suggestions floating around, some positive and some negative.
I look back at the history of the company, it was very ambitious and for some of it Anthony Tse was there.
Post Iggy Tan taking a knee we had a company with $50,000 in the bank and the new board turned it around.
...and here we are.
The initial agreement for Sal De Vida included a Korean consortium of things referred to as KORES. They have from my understanding been disbanded but the original intent of that agreement which aligns with thoughts of @airconditioner is that Galaxy (Lithium One) would have free carry at Sal De Vida. I forget the original agreement for that but the 4% of KORES extended out on certain conditions being met. I think it was 10 or 15%
Perhaps, after the bumbling of Argentina the two companies have come to a new arrangement to get things moving and on track.
We don't know what the adjustment might be if there is one, but if Galaxy secures a similar agreement to that had with Lithium One with KORES that there might be plenty of opportunity to move towards a share buy back which has regularly been speculated on the forum.
Maybe it is time for those shorting the company to ring around and find funds to be able to pay for the shares they need to buy back which potentially at the opening post announcement could see them resulting in a loss.
Something about vengeance being best served cold.
The company have no doubt been waiting for this moment to place us in a trading halt, and hoping it would be a simple quick answer might result in a significant oversight for some traders.
When it comes to JV partners Anthony pointed that the request was made... Why can't it be 50,000tpa? ...he answered.. It could with the right investment.
Trading halt and little explanation other than the expecting of funds.
If it is as simple as receiving the funds what next? The share price is incredibly low.
I am seeing this as the start of all those announcements that the board wanted to offer us at the end of last year, it's just that Argentina couldn't move at the speed we hoped.
When all is said and done, we can speculate from here to the ends of the (flat) earth. It won't make a difference because what will be, will be.
We will either be disappointed, which I don't see happening because the company has continue to develop and grow beyond that $50,000 in the bank when all might have been lost.
My friend @maxi1981 always reminds me to just wait and see what happens.
I don't think the result of this halt will be negative, the company will have done all it can to ensure that is not the case, so I am leaning towards a positive outcome.
We can read two, three, five or ten things into this, but let's just do as Maxi does and sit back and see what happens.
Let's see who is on the right side of the trade.
Anyways, I'm off to listen to Eminem.
Good luck!
GXY Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
