Opinion Strachan Corporate estimates that Galaxy will generate cash flow of $18 million by December ‘16 from farm-in payments and operations at the Mt Cattlin lithium-tantalum mine. With net debt to about $17 million, Galaxy is well placed to support ongoing development activities around the massive Sal de Vida lithium salar project in Argentina. The outcome of Argentina’s recent election is seen as being extremely positive for the development of Sal de Vida. Galaxy is well placed as a speculative buy in the lithium industry. Peter Strachan
Asset A$m $/shr Hardrock Li 125 $ 0.093 Sal De Vida 152 $ 0.113 Net cash (17) -$ 0.013 Admin (18) -$ 0.013 Total 242 $ 0.180
Strachan previous valuation was .055c on 14 may 2105
GXY Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held