Sorry about the smilies in the bold text,have no idea how the...

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whisky49

8,472 Posts.

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23/02/19

11:48

Post #: 37541029
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Originally posted by whisky49 ↑

"I think GXY is stockpiling at MC for hydroxide conversion"

Why would they do that, they want cashflow and have obligations through binding contracts for everything they produce ...if there was a change to that situation it would be a material event and require updating...the fact it may be shipped out in a an irregular fashion currently, if in fact it is, is irrelevant, it will be shipped out...

"Galaxy Resources Limited (ASX:GXY) (“Galaxy” (“Company”, is pleased to announce that it has executed binding long term offtake contracts with multiple customers throughout Asia. Galaxy Lithium Australia Limited, a wholly owned subsidiary of Galaxy, which ownsthe Mt Cattlin Project (“Mt Cattlin” in Ravensthorpe, Western Australia has agreed to sell 100% of the planned production of lithiumconcentrate from Mt Cattlin for 5 years beginning in 2018. Pricing is on either a CIF (cost plus insurance and freight) or CFR (cost plusfreight) basis and will be subject to an annual pricing review between Galaxy and its customers in Q4 of each calendar year. The parties have agreed the pricing for FY 2018. Annual volumes are subject to standard commercial terms with delivery on a +/- 10% basis."

Cheers Whisky

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Sorry about the smilies in the bold text,have no idea how the got there...

Cheers Whisky

GXY Price at posting: $2.12 Sentiment: Buy Disclosure: Held
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