General: Share Price, Trades and chart related discussions, page-1177

Yes you know me well that I do like a bit of to-and-fro. I had to take some time out of the evening just to read your reply as it is quite long...

I don't think I was wrong on GXY payments. GXY/GMM had announced that they were to get a $18m payment by a certain date. (Some time in March I think it was. I cant be bothered looking back at announcements now) But they didn't get payment by due date and it was delayed by 6 weeks and even then went into a trading halt only to come out of the other side of the halt with only half payment ($9m) and then to say that the other buyer wanted to come and look at the plant first before they signed the paper work. They had months to do this before the due date but didn't.

You didn't have to explain to me the difference in spodumene grades eg 4%, 5.5%, 6% as like 99% of people here am already knowledgeable in this area. As you say there is theoretically no minimum. Higher is better. Less shipping. Less processing. But with 6% becoming the preferred standard for processors, if your plant could not produce this grade then they would not even look at you. You have agreed with me that Most of the upgrade was about increase in capacity and further incremental improvements to recovery. Mica and "higher percentage" were also improvements to the fine circuit. But upgrades can still be done while still processing. GXY have been processing since the 10th march? (6 months) but still no shipment and shipment date keeps getting pushed back.

I did not come here to talk of NMT. But to ask for you to stop your constant bashing of NMT. But in your reply you couldn't help yourself. You say "High iron content at Mt Marion is a fact. You’ll see soon enough that this presents an issue that has to be addressed at the mine or the processor" The processor is Ganfeng (worlds largest lithium battery producer). Ganfeng were the ones that wanted NMT to double Mt Marions output for them and also take the 4%. They cant get enough of Mt Marion spodumene. Why would they want all this (life of mine product) if the iron content was going to be such a problem? Obviously it is not a problem for them otherwise they would not have done any deals. They could have instead done a deal with Mt Cattlin but have gone with Mt Marion.

You say "MIN - do have a history of build and walk away. (Your last post said run away) You’d think they have a choice each time if the potential is great. No-one is forcing them to sell". Also
"Last time I talked to you, I said that the last chunk of NMT equity would be sold and I was right, wasn’t I?
Seems MIN are now selling that same chunk at an additional profit."
If you read MINs announcement then you would know the reasons why they are selling are to pay for other projects they have on the go. Its in their reports. And yes after spending a tonne of money on their share are selling at an additional profit. Its what MIN do. Its called making fast money and this strategy has made MIN very wealthy. They have done a great job in getting Mt Marion up and going in such a short time at their cost (not NMTs) saving NMT from further dilution through cap raisings. You say "Ganfeng head honcho wasn’t exactly bullish on further expansion when he was here in Australia. Did he turn them down?" Ganfeng never said they were here to discuss buying out MINs share. It was the media that suggested this.
You say "Consider for a second the benefits that would have come to NMT from retaining a higher percentage of the ownership." yes there would have been some benefits but if NMT went alone, then Mt Marion would not be at a stage of almost first shipment, have a life of mine overtake agreement with Ganfeng and would probably still be only at the stage of drilling everywhere just so they can say to everyone wow look how big our deposit is but still be nowhere near ever mining it. Their shares would have been diluted to the max to come up with the money to do everything that has been done so far at Mt Marion. Going down the path they did has made any profit from Mt Marion come faster quicker for their share holders.

I have said it before to you that a dividend is a dividend no matter how you look at it. NMT would not have paid their share holders two lots now if it ever was going to be a future money problem. And if you read the EUROZ reports on NMT, then you will see that they state the dividend payments will be on going and not as you say as not being an ongoing thing. Sorry.

Yes Mt Marion shipment has been delayed. Over a year ago the were aiming for a September 2016 shipment. Bugger they have missed their target by only a month or so. Yes rain may have affected Mt Marion’s construction schedule too. Glad its not 6 months or so as investors would be asking questions. The DFS was not delayed as was stated to be out SOMETIME around June 2016. It came out on 11 July. Neither has the share buy back as it has until April next year to finish. If you read their announcements you would see this and not just presume.
You say "Galaxy’s 100% equity vs NMT’s 14% is not a contest". I never said it was. You also say "I consider it quite likely that Chris Reed will continue on his path of selling assets and sell the rights to the ELI plant and off-take" NMT have already said they will sell off equity in both Barrambie and their Eli project to someone to help get them get up and going. Its what NMT do. GXY have mentioned to do this with future projects as well. Does this type of strategy bother you?? But why would Chris sell the rights to the ELI plant and off-take?? The deal they did with Ganfeng over this is what makes their Eli project so good. It wouldn't make sense to sell it off. I am surprised that you have even suggested this.

You don't need to explain to me why you invested in GXY and not NMT. I am not here to try and change yours or anybody's mind on that. Only here to reply to concerns you have with NMT. Many GXY and NMT holders hold both company's shares. Are you trying to convince them otherwise?

You say "The gains of the first quarter may be about to repeat in the lithium sector as the world wakes up and it looks that this time they will be all about the real producers. Because now - there are real producers." Yes I agree 100% with this.

You say "I wish NMT all the best but I’m personally not as interested in the company’s forward strategy.
I’m not the only one" Yes you are right. Not everyone is interested in NMT. The same goes with GXY. You just have to read up on the PLS forums to see that.

Also you don't need to explain the difference with market cap and share price. I do know the difference.

You also say "Those doing deals with the Chinese now from Australia will have to be careful.
They may get the deposit and the mine but they may not have a company like Mitsubishi behind them to pursue the cheques and enforce the contracts." What do companies doing deals with China need to be careful about? Why do they need a company like Mitsubishi to do the deals? Aren't companies like Mitsubishi just a middle man taking a cut? Another expense? GXY are using Mitsubishi because they don't have a life of mine offtake agreement with anyone. They need a company to try and find buyers for them. This will be an issue if spodumene ever gets too flooded in the market and outstrips demand.

You say "I’m not expecting these views to be popular with NMT holders but I'm entitled to have them and express them." That is correct. The same goes both ways. You also say " This is the Galaxy forum. If you want to chat about NMT and inform me about where I'm still a doofus I'll come over there and discuss. OK?" You say this but you are always the one to bash NMT here first and not instead on the NMT forum. That is why I am typing this here and not over at NMT.

I did not come here to bash GXY either. I have already explained that I may well end up being a holder again one day. GXY have a very bright future. You don't just get into the ASX200 for no good reason. Mt Cattlin and Mt Marion have both come into production at a great time and left the rest in their dust. We should be congratulating each other. Not trying to pick at any faults. Save that for the other lithium wannabees nowhere near production.

You say "I imagine you will want to to-and-fro for a while but let’s just leave it here, eh?" That's up to you. If you want to keep going then I am up for that. If you don't then that is fine. It is up to you. You did say "I’m all for peace and harmony in the lithium sector" Then what was your post really about??