GXY galaxy resources limited

How's this for a theory??

  1. 6,497 Posts.
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    Have a look at the drivel just published by MacWealth...... Now we know who the main culprit is!!!

    Outlook
     Downgrading GXY from Neutral to Underperform. For GXY, following ORE’s deal with TTC and now SQM’s with Corfo, we believe Sal de Vida is unlikely to be brought into production. Removing the development upgrades medium-term earnings due to reduced operating costs, but LT earnings are down 15% to 45%. Our downgrade is driven by an ~80% reduction in our valuation of Sal de Vida.
    We downgrade GXY from Neutral to Underperform with a target price of $3.00/sh (from $4.00/sh).

    Extracted from "Global Lithium The Chilean ripple effect" Report dated 23 January 2018
 
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