GXY bid for NAL, page-5

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23/09/19

22:00

Post #: 40535298
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Originally posted by Thesi: ↑

I think there is risk in any project but given that this particular one hasn't gone extremely well I can see where you are coming from because that's my initial thoughts also, but then Galaxy has done well with Mt Cattlin and learnt the hard way. This could be a chance for the company to stamp its mark in Canada and at the same time pick up a 23,000 tonne per annum converter with perhaps both picking up CATL as a customer and also impressing the Canadian government as a company that brings jobs and gets the project off the ground.
The unlucky nature that Canada has developed with also be on many people's minds when it comes to making an investment decision in taking on the project. Going in with no experience will just end up in the same spot a year or two down the track. No doubt also that it will require some investment to get going again which for me was something that didn't sit well in my mind for SYA saying they will express interest. I wonder too what that expression entailed. Where will they gather the funding to get it going? Unlikely, improbably and simply unlikely. They couldn't do a capital raising at this level to make it happen. Even a 1:1 would not give enough funding.
For the converter I think worthwhile. For the mine I am uncertain.

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They spent $400 million on it already. Looks like it is almost ready to go. Why start from scratch when most of the work has been done.
http://na-lithium.com/projects/

GXY Price at posting: $1.14 Sentiment: Buy Disclosure: Held
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GXY bid for NAL, page-5

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