"Galaxy could be readying to make a play for struggling Alita," - Let's Just Wait & See Shall We?, page-4

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21/08/19

09:44

Post #: 40069682
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Originally posted by robbo24: ↑

Lest we forget what GXY Chairman said on 29 May 2019: https://www.copyright link/companies/mining/galaxy-to-back-lithium-processing-plant-in-china-20190529-p51s63

“But we can participate in a new or existing facility for that time and then work on getting a substitute [mine] asset from somewhere, which is the likes of Alliance,” he said.

“If Alliance turns out the way we want, there is a possibility of some merger or something … we haven’t thought about it yet and we still have a lot of work to do.”

Galaxy is eyeing a 15-year mine life to underpin its operations in WA and chemical processing ambitions in China after the early move on Alliance also put it front and centre for any float of Cowan Lithium, a private company spun out of Alliance and owner of tenements adjacent to Bald Hill and others close to Mineral Resources’ Mount Marion lithium mine.

Mr Rowley said there was “fantastic exploration upside” attached to Alliance’s Bald Hill operations.“

They [Alliance] have been on a tight budget getting their plant up and operating and haven’t done any exploring, so their mine plan is deficient,” he said.

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Based on SGX ruling,GXY cannot offer anything less than 20c within 6 mths of last purchased price of 20c where GXY has purchased the placement shares from ALITA.We will see.

A40 Price at posting: 8.2¢ Sentiment: Hold Disclosure: Held
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"Galaxy could be readying to make a play for struggling Alita," - Let's Just Wait & See Shall We?, page-4

Top Stories

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'Defining moment' for Unico as miner expands Joaquin's mineralised footprint

Last hurdle for Anson's Green River plant as Korean partner looks over brine

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

ASX Market Close: Iron ore prices stay strong; US CPI data due Tues night

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