Hi Halpo,I want to keep this brief the 70million debt for the...

Hi Halpo,

I want to keep this brief the 70million debt for the assets I believe is incorrect

please note -

Note 8: Administrator loan

As discussed in section 6.2, the administrators entered an administrator loan with CHEL on 28 November 2019. The

administrators drew down USD 32,266,998.85 on 29 November 2019 to repay Galaxy in full.

The administrators loan includes anearly repayment fee of $10.5 million if the CHEL/Liatam DoCA is not approved. This repayment would arise If the Group was placed into liquidation.

The 10.5 million is illegal in the process of the original doca that failed we have solid advice on this matter and makes the deal invalid - the force major on creditors to accept the deal or face to pay the penalty of the break fee was excessive and manipulated

This 10.5 million may be associated with JbJ (jiangte the original off-take partner) trying to get their money back from the transaction below

NOTE 15: JBJ claim

Under the Offtake Agreements, JBJ prepaid for shipments. JBJ has submitted a proof of debt for c. USD 9.6 million for the outstanding balance of the prepayment at appointment.

The Receivers and Managers issuedshipping notices to JBJ, however no shipments were accepted. We consider that claims

arising under the shipping notices may be set off against JBJ’s claim in the administration. If this set off is available, JBJ will be a net debtor of the Group.at legal / regulatory hurdles might be there?

JBJ’s claim is subject to theoutcome of the contract during the administration process. The Administrators have not yet adjudicated the claim and are in discussion with JBJ.

We have therefore estimated the low outcome creditor claim as c. $14.5 million if no offset is available and the high outcome


The Webb and spiral lead back to the off-taker - who is chel engergy back by ??






the debt is only a 53million and we must understand we are dealing with the same corporate raiders that failed the first time with firb and have run to the USA and have come back as Austroid same same still chasing their 10mill and overstating the deal



proof below as galaxy understands the price point that matches the above 6.6 estimates of the return to creditors

Lithium WA Investments, which is associated with Alita’s previous mining contractor, is currently seeking court orders to either place Alita into liquidation, or to enable the company to acquire Alita’s assets for A$55-million.

Galaxy on Friday said that it had joined with Lithium WA in the legal proceedings, as a plaintiff, and would share the costs, along with fellow shareholder Tribeca Investment Partners.

SHAREHOLDERS NEED HELP TO OPPOSE THE 444gA AND CHALLENGE THE EXPERTS REPORT AND DEMONSTRATE VALUE


HAVE WE ANYONE ON HOT COPPER THAT HAS REFERRALS FOR SOME TO TAKE THIS TASK ON ASAP