GXY 0.00% $5.28 galaxy resources limited

feb plant restart, page-4

  1. 8,440 Posts.
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    It says:
    Subject to government approval to reopen the site, the Jiangsu lithium carbonate plant would likely restart operations in early February.

    Personally, before buying back in, I will wait until:
    - due diligence is complete for CR - lets hope our financiers can get a visa! What happens if the application is lost in the mail?
    - plant is actually up and running (not planned to be up and running)
    - some information on compensation for killed and injured worker is provided
    - some information is provided on speculation about power failure
    - some guidance is provided on full ramp up date. They were only at 30%, and now they have to start the whole process again. When will we be close to 100% - end of 2013.
    - costs for reopening mine in WA is provided.

    It really is a raise against time, especially if they can't get the money through the announced capital raising.
 
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