MIN is the other producer, that has already sold off via JV for us$1.1b from memory.
correction - “ohhh and by the way we are going to need 30kt per MONTH moving forward.”
galaxy have enough money to: a) survive and be the last man standing in aus b) take a blocking stake in all Aus hard rock producers c) continue to develope SDV which results in our production time line being uneffected. Ie the value just continues to rise, the longer the JV parter delays the more they will have to pay. Simple. d) enter a JV down stream processing via a converter e) actively drill campaign at all three mines to improve the resource base and value of the company.
$1.31 is just stupid and the regulators should be bloody ashamed of themselves. This is an attack of an industry that is attempting to save the planet and the frogs at the investment banks simply want another bag of coke.
Here comes the policy reform....
maintain strong buy
GXY Price at posting:
$1.31 Sentiment: None Disclosure: Held
