“We look forward to working closely with POSCO on our projects for long term mutual benefit.”
Martin Rowley, Chairman of Galaxy, 29May 2018
It may be simple pie-in-the-sky speculation, but the wording in Galaxy’s notification to the ASX regarding the sale to POSCO of Sal De Vida northern tenements is open to more than one interpretation. The most obvious one is that they will cooperate in developing their respective Solar de Hombre Muerto projects, but what if that is not all?
POSCO have made no secret of their ambition to become a major player in the lithium sphere, and have entered into agreement with Pilbara Minerals that is beginning its Stage 2 development (see link @ 3:50).
Galaxy has James Bay awaiting development, with easy access high grade pegmatite just laying around. It certainly is one of our projects. A similar agreement to the one struck between PLS and POSCO would certainly be mutually beneficial, wouldn’t it?
GXY Price at posting:
$2.78 Sentiment: Buy Disclosure: Held
