When GXY confirmed production had commenced it sent shares in...

When GXY confirmed production had commenced it sent shares in 20% shareholder Creat soaring(it is listed on the London AIM).

Buy / Sell depth and trend looking good.

http://www.iii.co.uk/articles/articledisplay.jsp?article_id=10119731§ion=Markets

"Creat cheers lithium production kick-off

Fiona Bond
05.10.10 10:41


Creat Resources' (CRHL) share price rocketed on Tuesday after Galaxy Resources, in which it owns a 20% shareholding, kicked off lithium concentrate production.


Having risen as much as 38% in early trading, the shares had eased but were still flying high with gains of 30% at 4.25p.


The AIM-listed company said Australian Galaxy is now producing lithium concentrate at its Mount Cattlin mine in western Australian on schedule, following the successful commissioning of the crushing circuit.


Galaxy said it will progressively ramp up throughput until full capacity is reached.


Creat Resources' chief operating officer Rex Chow described the milestone as both important and underscoring the potential of its investment in Galaxy.


"This milestone highlights the potential value of our strategic approach to seeking acquisitions that will expand our international presence as well as our resource base.


"We remain confident that Galaxy's own strategy of both mining and processing lithium will position us strongly in a rapidly growing market."


The resources investment company said lithium carbonate materials are forecast to be in short supply against rising demand due to advances in life-long batteries and electronics including mobile phones and computers.


Today's update comes just 24 hours after Creat announced that Galaxy had agreed to issue a AU$30 million in a convertible note to a strategic China based investor and was considering a dual listing on the Hong Kong stock exchange.