GXY 0.00% $5.28 galaxy resources limited

Galaxy Resources shares., page-29

  1. 1,658 Posts.
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    C'mon @Thesi - is this your best shot?
    PLS "made some good plans"?

    PLS did not make their share holders aware of the dangerous position they were in with regards to the ROFR and have diluted approx 10% to get back to square zero.
    No major holders were alert to the threat that this little foot note in their tenement posed.
    And yet.. they have wasted months and lawyer bills playing footsie with MIN and paid the equivalent of $50m. Ouch. Is that good management?
    None of the PLS promises have amounted to anything firm. Dates have slipped for everything they have announced - DFS, signing of more BOAs. Long lead items appear to still not to have been ordered, or only very recently if they have - certainly not when they were first announced. There is no firm date for mine completion, mine contractors or shipping dates. They have a mining camp that may cost them more money and not exactly that close to their tenement.
    Their "good plans" are still without any method of paying for the mine without further dilution - there are no firm contracts or pre-payments.
    The "largest resource" argument is now fading as other hard rock mines come up with the goods from drill results. The processing agreement with LIT may take several years to progress to anything and PLS have to pay for the build.
    How long - is until PLS are in the same position as Galaxy - virtually debt free with a mining operation? 4 years? 5 years?

    In comparison - Sal de Vida has a much bigger lithium resource and less production costs.
    Even James Bay may prove to be larger and easier to mine than PLS.

    Orocobre are still producing carbonate that is sub battery grade and requires extra processing.

    That ridiculous BS down-ramp over Tse is purely grammatical - try writing your cv ... first line "I have worked at...". Are you stretching a little hard here or what?
 
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