Hi Mulder, Scully here. :) I might pull back from making...

Hi Mulder, Scully here.

I might pull back from making suppositions on what Joe might suggest or say... I don't want this to fall into a conversation that might be construed as me talking on behalf of him. Though he could know FMC's strengths and weaknesses very well.

My perspective has generally been that Galaxy might work with FMC at Sal De Vida.. It makes a great deal of sense... both location wise, and also that Galaxy appear to be that piece of the puzzle which FMC need... They are reliant on 3rd party supply to meet the demands of their customers. - Galaxy and Nemaska are a part of that.

I am each way on Volkswagen and Tesla. - We know that FMC have a multi-year supply agreement with a major manufacturer of electric vehicles, and Volkswagen are aiming to bring some direct competition to the electric vehicle market, of which the Galaxy Team have a good understanding of Volkswagen's requirements.

And whilst I am quietly confident that Mitsubishi, GS Yuasa and Bosch will be in the mix somewhere I cannot shake the feeling of Tesla and VW with CATL in the mix.

Having a conversation the other night with @M92 I was reminded of the point:

No GXY = No Lithium
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There is no competition when it comes to lithium supply, and Galaxy has already built its first Tiberium processing plant and is moving on to the next 2. (C&C fans will understand) - I don't want to be distracted into discussing lithium pricing, but by that lack of competition & insatiable demand make sure you're sitting down when the 2018 pricing is revealed.

Where was it?

Hows this all going to come together? - Well I think FMC will have their arm twisted, and if they don't then Galaxy will go through with the $120 million plan to construct Sal De Vida, which they will probably do either way, as 25,000 tonnes per annum wont come online instantly. - Unless they have a secret fast extraction process that I have speculated previously.

Maybe as you say Bob, that Galaxy might try a bit of this, and a bit of that. Getting assets built, and also securing a percentage value in battery production. - This is what I am hoping for ultimately.

An analogy might be, that spodumene is like an orange, and lithium carbonate/hydroxide is like the orange juice all packaged.

But value wise, there is more $$ to be found in a pallet of orange juice bottles all packaged up, as opposed to a pallet of oranges.

Actually.... A picture is worth 1000 words.. (maybe more)



Maybe it is this...

Sal De Vida will be a partnership between FMC, Galaxy + Lithium Energy Japan.

They might build a battery factory there which would be greatly appreciated by the local's

James Bay, possibly a similar thing for North America.

With Mt Cattlin, for Japan & China. - Though, I see something else here, but I cannot put my finger on it.

Hopefully I am not putting the company under too much pressure here..

I know they have been incredibly busy fielding lots if inquiries since the recent news regarding China..

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Ok, that's my bit.

And remember...

No GXY = No Lithium ​

Strong bargaining chip that one..

Quick! Write it on your arm so you don't forget.

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