I love crappy management that have delivered an income producing...

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Whisky49

13,375 Posts.

4541

11/04/19

07:21

Post #: 38089328
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Originally posted by SpaceWalker: ↑

Let's compare GXY to Lithium America's who has partnered with Ganfeng. Minar Exar the operating company was 37.5% owned by SQM and SQM also held 25% of LAC stock. Ganfeng bought the SQM shareholding in Minar Exar and LAC. Recently they increased the shareholding in Minar Exar to 50% by injecting $160 million into LAC and expanding the LiOH production from 25k tons to 40k tons. The stock price of LAC has moved from a low of US$2.73 to a high of $4.80 per share. The resource size is now estimated at 17.9 million tones - a limitless resource. It will allow the company to keep on expanding into the future.

GXY had all the opportunities on hand. A massive reserve owned by GXY and no partner. First we sold half of the salar and then went looking for a partner. How stupid was that thanks to AT and our Board. Now we are left with a competitor and no expertise except some US$220 million representing approx 50% of funding requirement to build the SDV. In my opinion that's the reason the stock price of GXY is so depressed. Until a JV partner comes along nothing is going to change as investment bankers and lawyers cannot build and run a speciality chemical plant and a mine. As a first step half of our board must go and be replaced by people who know how to get the job done.

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I love crappy management that have delivered an income producing asset, eliminated debt , have several hundred million in cash and have a huge brine asset awaiting development and another Spod asset in the wings....many Lithium Companies would die for that...

Fortunately we don't have some of the anonymous keyboard warriors that abound on HC running the Company...

Cheers Whisky

GXY Price at posting: $1.90 Sentiment: Buy Disclosure: Held
30 Upvote

6 Great analysis

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I love crappy management that have delivered an income producing...

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Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

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