gxy nice ann out

Morning Guys...GXY nice ann out

Highlights
 New ore reserve estimation of 9.3 million tonnes at 1.04% Li2O
 Supports previous resource statement of 14.4 million tonnes at 1.08% Li2O
 High conversion rate of “resource” to “reserve” tonnage
 8,000m RC drilling program underway to upgrade resource categories and define resource extensions

Remember:

Lithium carbonate is used in lithium-ion batteries, which are seen as the most practical option for electric vehicles because they have the higher energy density required to feed electric motors.Chinese electric car maker BYD Co Ltd (1211.HK: Quote, Profile, Research, Stock Buzz) said this week that U.S. billionaire Warren Buffett intends to raise his stake in the company, while Japan's NEC Corp (6701.T: Quote, Profile, Research, Stock Buzz) will use part of its planned $2 billion fundraising for lithium-ion batteries.

Source:
http://www.galaxyresources.com.au/documents/Reuters040909-Galaxy_001.pdf