I followed up this post by double-checking Mitsubishi's involvement with Galaxy and have been told that I was incorrect. Not sure why I was certain that they had been let go. I thought it had been mentioned in the Q4 earnings call. It wasn't, and I sincerely apologise for the mistake.
Mitsubishi are indeed still involved doing the same logistics and contracting work for Galaxy that they were first engaged to perform, and still taking their commission. I can only assume that Galaxy still feel that there is either a cost advantage in doing it this way, or that this is preferable to dealing with the Chinese companies by themselves. I guess once they feel that they no longer need the assistance then they can let them go.
Certainly Galaxy has so far enjoyed the highest spodumene contract pricing of their producing peers so they may have a if-its-not-broke-don't-fix-it approach.
GXY Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
