SDV 10-year offtake discussions, page-20

"Its unlikely to be Galaxy imo

If it was, Galaxy would have finished somewhere in the green on Friday."


Maybe so MD, there's possibly nothing in it or the market hasn't quite caught on yet?

Well, most of the market.

I find the recent JP Morgan report curiously coincidental ... devil in the detail.

"We assume Sal de Vida is approved by the end of CY18 and first production occurs in Sep Q 2021. We have assumed a 10% capital increase in the project (to remain
conservative given the long lead time and currency risks) and include 10% higher
operating costs than forecasted by the revised DFS. We assume a 40-year operating life
and arrive at an A$1.0bn asset valuation. Our base case assumption is that GXY
sources capital through debt markets to fund Sal de Vida, but the potential for a
strategic partner to inject equity into a joint venture to help fund Sal de Vida is highly likely, in our view."

Let's not forget Galaxy could be supplying (whoever) 400+ tonnes per month of battery grade lithium carbonate as of next year by a simple off take agreement with their recent strategic alliance partner in Lepidico. You know, just to tie things over until SdV is producing.

GL