http://www.scribd.com/doc/66391738/Galaxy-Resources-ReportOld...

http://www.scribd.com/doc/66391738/Galaxy-Resources-Report

Old report (Feb 2011) but still relevant. Good thorough review of Galaxy. Not much has changed since this report was released, other than the HK listing cancellation and the share price!

Huge Potential to the Vertically Integrated Lithium Carbonate Producer

Investment Arguments

High Future Demand for Lithium Carbonate:
Lithium Carbonate is the basic rawmaterial for the production of lithium used for production of lithium batteries. China istargeting twenty percent of its energy requirement by 2020 from renewable sources

Site for Manufacturing Plant Finalized, Offers Potential for Higher Margins:
Galaxy has selected a site located in the Jiangsu Eco-Friendly New Materials Industrial Park toconstruct a manufacturing plant in China to produce lithium ion batteries for E-Bikes.This offers the potential for higher margins and a direct exposure to the high growing E-bikes market in China. When in productionthe Company will be world‟s largest supplier of EV grade lithium

Strong Lithium Assets:
In the near future, theMt Cattlin mine will be the world‟ssecond largest hard rock producer of lithium and through the development of its valueadding lithium carbonate plant (17,000 tpa) the Company will be the largest producer ofEV grade lithium carbonate in the world