Hi Sala, I have had a good read through the conference call transcript this evening, and there is nothing in the report or the transcript, that is interfering with my peace about holding this share.
From what I have read, the delays/setbacks in relation to the granting of the permit/s east of Floater Rd, and the finalisation and commissioning of the optical sorter circuit works at Mt Cattlin, have been sorted, and we have now been given some indication of when further upgrade completion and commissioning will be due to take place; and I’m not surprised that some of this will be spilling over into the 1Q 2019.
But, apart from Galaxy management finally having access to the POSCO funds in escrow, around the end of the month, the thing that will really generate some excitement amongst us this quarter, will be the identity of the entity/ies being made known to the market, as to who management will be strategically partnering with to advance SDV and perhaps JB.
I remember some people questioning that 3000t shipment early in the month, and some thought it may have been from AGY or TAW. It was delightful to read that it was actually from GXY and was sent to POSCO.
I’m not stressed or perturbed about the way that events are playing out, especially, in relation to management not informing the market any earlier, about any of the challenges being worked through at Mt Cattlin.
To my way of thinking, I think that management, would be too professional to try and hide anything from the market, and seeing that they were due to produce the quarterly report and host a conference call around mid-October, then, it’s possible that they thought that lithium sentiment and the markets were shaky enough, given global events this month, and quite possibly, were trying to avoid feeding the sharks, or creating any more concern or panic selling amongst holders, if the news were released any earlier.
At least this way, questions could be asked, even if only from the likes of analysts/brokers and banking entities.
I know that receiving this information any earlier, would not have affected my decision making in this investment.
I note that there was no mention of investment/merger with TAW, and I did not read anything to indicate that Galaxy would be taken over by another entity. I reckon that they would be putting up a good fight, if they were being approached with several unwanted offers.
I’m not particularly fazed about what they do in regard to capital management, however, I do feel that management will do what they think is best, in the interests of rewarding shareholders, and creating long term shareholder value.
On a side note, when persons of a shorting nature strut their stuff across my telly screen, I see it as a bit of a buy signal about to emerge.
It would be good if some of the more worried holders, could see these low share prices, not as problems or disappointments, but as further opportunities for some more good trading set-ups, if possible, and hopefully have access to more funds available. I do understand how some are feeling, as psychologically speaking, we all want to see our share prices on the rise.
I’m not really concerned about shorters winning or losing in the short term, because, even when Galaxy reaches some of those previous highs, I’m sure that many of us will be doing so much better as a result of having bought the lows as they arrive on our screens. $2, $1.80 etc...let us at them!
I remain excited about how we will end our year in Galaxy, and the announcements to be made in the quarters going into 2019.
A very productive day in Galaxy. GLTA
