Mt Cattlin production update

In a completely kick arse presentation at the Swiss Mining Institute, Anthony Tse (Galaxy) updated a lot of new info about the future of Mt Cattlin. Some I guess have already seen it as I'm guessing quite a few of us hold both stocks.




Of immediate interest for GMM is the details about increased spodumene price for Q4 shipment and revised production expectations at Mt Cattlin.
Mt Cattlin will move to approx 150kt+ for 2017 with a spodumene price hike of between 10-20%. They may even get more if Mitsubishi can twist some arms a bit harder as the converter factories are making a killing.
200kt is also mentioned as achievable. Old GMM NPV is completely outdated now.
Tse confirmed that GXY's sp hadn't priced in SDV at all. And if they haven't, then we have headroom to burn with 25% of their shares on offer. Further dilution seems very unlikely too as we get our first shipment deposit cheque of $9mUSD next week.

Oh yeah. And we start production this week using the 400kt of already mined rock ready to go.

Come on GMM! Wake up! - Nice jump last week but its time to get a move on up again. The holders of this stock have already proven that we have steady hands but, because we are still beneath the radar, we can still have such low volume days that see it sleep walking. I've taken to calling it GrandMa Mining because it seems so mellow, in a geriatric way.

Just on fundamentals GMM hasn't kept up at all with its increasing value - miniscule dilution (~300m shares) , a mine already built, experienced partner, no debt issues, Mitsubishi sales agent and an off-take deal to die for in the boom commodity of the 21st century.
I expect to see the old sp target of 60c revised up again by another large margin when Tse's new figures are eventually priced in.

GXY has its SDV plans for its ride to $1 but GMM doesn't need more than the more than sweet deal it has already on Mt Cattlin to deserve the same high sp, and is lean enough to get there faster. Not bad for having already been the best performer on the ASX last year.

A DFS is planned for James Bay by Q4 and it could provide an easy way for GMM to double its scale again in the next few years. Tse said it was bigger than Cattlin but was a bit off-hand about it ("a mid term option") - perhaps indicating that they could see selling off their stake to GMM as they increasingly focus on brine.  With spodumene on the surface, ready to be scooped up and US customers close by, GMM only need to copy and paste Cattlin and its a going concern.

It will be interesting to see how many people wake up soon to the value on offer here. Not-pie-in-the-sky value. Cheque-at-the-bank and mine-opens-next-week value.
Unlike its fat brother GXY , GMM can now move on up very quickly.  

As ever - DYOR
Go GMM - GLTAH