I've read too much of this rubbish. As much as you get your...

I've read too much of this rubbish.

As much as you get your jollies from trolling this forum, what you are positing is that the company break ASX listing rules.

Maybe that's the kind of pump and dump penny dreadful company you play with, but to suggest that is what is going here is just scurrilous baiting.

Quoted from the September Quarterly released via the ASX:

"In early October, POSCO transferred US$257 million into the designated transaction escrow account at HSBC. These funds will be released to Galaxy upon receipt of the tenement transfer deeds by the Salta and Catamarca mining courts which is expected to be completed before the end of October. The US$23 million difference between the $280 million contracted purchase consideration and the amount already transferred into the escrow account is to satisfy a tax instalment payable by Galaxy and a deferred settlement amount, in accordance with the terms of the agreement."

As that was contained in the officially released document there is NO NEED for any further announcement regarding the transaction UNLESS the conditions above are NOT met. In that event under continuous disclosure rules, an announcement that it DID NOT OCCUR would have to be made as soon as it came to the attention of management.

With regard to the contract pricing, as it is commercially sensitive information (there are multiple customers with individual agreements) there is NO REQUIREMENT for an announcement of the prices. There was none last year, I doubt that there will be one this year.

What is likely to occur, at some point when questioned following the next quarterly call, is a reference to whether contract prices are higher or lower than the preceding twelve months.


I enjoy HC for a bit of information flow and chat. I don't come here to be irritated by that sort of garbage, welcome to my (quite short) ignore list.