Alan Rule, chief financial officer of lithium miner Galaxy Resources, said he had recently had meetings with some of the biggest traditional car manufacturers in the world about whether the product from its proposed Sal de Vida and James Bay projects would meet their specifications.
"We are talking to them about an offtake agreement for Sal de Vida – 10 years and a pre-payment. Then we don't have to go and debt fund anything... they may come in for a small portion of equity. That is how we are hoping to do it and then they have guaranteed supply."
GXY Price at posting:
$2.00 Sentiment: Buy Disclosure: Held
