Based on the company release from April 4, having completed the 2016 offtake agreements (i.e. we completed the remaining 21k to complete the 45000k agreement with the recently departed shipment from Esperance), can we now all assume we are now shipping based on 2017 pricing terms? From April 4 announcement:
" Galaxy is currently aiming to complete its 2016 contract offtake supply obligations with the upcoming third shipment which is scheduled to arrive on 19 April 2017. Concluding this shipment, all future volumes shipped will be on 2017 pricing terms, which is US$830 for 5.5% grade lithium concentrate product, rising to US$905 for 6.00%. In addition, all prepayments advanced by the current Chinese customers will be repaid after the upcoming shipment, consequently for all future 2017 shipments 100% of the revenue from lithium concentrate sales will flow to the Company".
GXY Price at posting:
41.5¢ Sentiment: Hold Disclosure: Held
