Hi @Gameplanon
This is difficult to answer.
Firstly, anyone holding from the period prior to the current management team would have a different impression to me. The last management team led by Iggy Tan nearly wrecked the company. Left many angry investors.
But also some very rich ones now that bought up when the price was low.
Galaxy Mk 2 is different though.
Anthony Tse came on board and did what needed to be done to save the company.
The expensive boat-anchor processing plant at Jiangsu was sold. The jv deal with GMM was set up to put some experience and finance behind the Mt Cattlin mine start-up.
My impression of both Anthony Tse and Michael Fotios is very positive.
Have a look for the video on Google at the Swiss Mining Institute in April.
Anthony is a seasoned communicator. Same goes for Fotios.
I invested in GMM because I heard a Fotios interview and I kept my money in GXY because I liked how Anthony Tse came across.
It's not Elon Musk's cool. But he puts over his point really well. Combine that with experience in media/tech companies in Hong Kong and I think he makes for a very good negotiator in the lithium world at this time.
My first post in this thread probably covers how I see the main events they have had to deal with so far.
I invested because of a firm mine open date being in place.
They met that date.
Undoubtedly there has been a lot going on behind the scenes. The offtake was a tricky one that changed substantially over time and frustrated a few holders. I think it must have got to being almost plain confrontational and obstructionist from the off-take partners as they played for time and possibly a better deal. In the end we have a deal that quite possibly improves upon the earlier announced one - by having at least a quarter of this year's product headed for the the spot market where we can expect to get a good competitive auction price.
Who knows if this was some sort of gambit or a middle finger or a hunt for another few good clients?
With the off-take announcment deal delays - the truth was that there was always time on GXY's side as there was no fear of running out of operating capital and the first shipment was not yet ready. Being paid in advance for half of it looked after the mine and kept things moving.
They've managed the communication of this merger better than I expected them too.
This stuff is very complicated - but it hasn't been too difficult to understand what is going on.
Updates have been as good as we could expect and they have managed the acceptance of 80% at the time I thought they should have. Insisting on 90% only would have been a tactical mistake. This way we will most probably push over the line to that number within the next couple of days.
Will they hold the DFS (yeah yeah even if they have it ready and legally obligated to present it) - until the merge and every last GMM share has been consumed?
We all want clear air for it. It's a big document.
It deserves to be read on an uncloudy day.
Hopefully that is how management see it too.
Fingers crossed that day is tomorrow.
GXY Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
