Already seeing consolidation in the sector. Although a little old, I don't think the story below is dead and buried yet. Considering GXY's SP, hope their buying with scrip! Wouldn't a battle between Galaxy and MIN be nice?
https://www.copyright link/street-t...d-put-galaxys-focus-on-tawana-20180927-h15yaz
Taxing times could put Galaxy's focus on Tawana
By
Sarah Thompson and
Anthony Macdonald
28 Sep 2018 — 12:15 AM
When
Galaxy Resources raised $386 million from the sale of some lithium tenements in Argentina in May, the money looked destined to be spent on construction of its $US474 million Sal de Vida lithium brines project in Argentina.
But the introduction of a new tax in Argentina and a sharp fall in the share price of Australian lithium producers could see that money spent closer to home.
And few lithium miners are closer to home for Galaxy than
Tawana Resources.
Tawana's $173 million market capitalisation could be acquired by Galaxy using less than half the proceeds of Galaxy's recent Argentinian tenement sale.
Well-placed sources told Street Talk on Thursday that Galaxy was sitting just below the 5 per cent ownership level on the share register of both Tawana, and the Singapore-listed company that is currently merging with Tawana: Alliance Mineral Assets.
Galaxy had declined to comment at the time of going to print.
