Suggesting Galaxy is in a fight for survival right now is a big call. GXY has a long term strategy that doesn't suit the short term hopes of traders however I don't believe it's survival is in doubt at the moment. GXY has no debt - conversely it has a large pile of cash. It's current producing asset is operating at low costs compared to peers and still has many years of production left given the resource upgrade announced this year. Further drilling will no doubt stretch the LOM further. The YOP reduced costs at the right time. SDV will take time to be brought into production. This is the reality of mining operations. GXY has a pile of cash that was generated from the partial sale of the Northern SDV tenements which clearly indicates the value of the venture. GXY is self funding development and I'm a little perplexed at the desperation of some holders for the BOD to make a deal urgently given the period of the Lithium market cycle and negative market sentiment. Now is not a great time to be seeking funding. SDV will take years to develop, patience is required. GXYs peers may be in a fight for survival with high debt levels and higher operating costs, but GXY is not in that position. GXY doesn't have any concerns regarding solvency that some competitors may be facing. GXY isn't limping from CR to CR. @rvajna please elaborate to me why you believe GXY is in a fight for survival right now? If you have no faith in the GXY plans for SDV, why do you hold? Surely there are other pure hard rock plays for you to invest in. AIMHO
GXY Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
