This is a significant development for galaxy, due to the fact that they are one of our off take partners. This ties in well with a 30kt shipment in June, taking us to the 45kt guidance for the June quarter.
This should be enough to move the share price on Monday. Big chance on the 10th of June we will see a production guidance for the month of May, confirming sustained results from Mount Cattlin in April.
We are at the point end in more ways than one. 14% open ended shorts (56m shares).
GXY Price at posting:
$1.57 Sentiment: Buy Disclosure: Held