Yes and yes and big yes, they are producing at SVD. During 2Q, a new well ( SVWW18-24) was completed and was dug to a depth of 351m and tested for 48 hrs. I do believe this has been activated with enough money, now in the bank.
During 4Q, two more new wells (#25 and #26) were dug to the depth of 311m and 183m respectively.
They purchased a small fleet of heavy machines and was used to construct a test ponds and for general use.
They have constructed a 15 hectare of pilot evaporation ponds at SVD with 50 percent of the earthworks achieved at the end of 2018. With two months into 2019, I wouldn’t be surprised if they have completed the earthworks.
The company said in the last announcement, they have started two concurrent test works program aiming at fine tuning and optimizing each unit process in the flow sheet to produce battery grade lithium. This is in my view the much needed work to extract the best value from the strategic partners and also spend to reduce tax bills.
In short , you are right I can see in the photo you posted test ponds and white gold, galaxy had been producing.
In short , the team is doing exactly what the company said and they are doing it quietly . No complaints from my end because I know they extracted good value from POSCO despite the fear campaign the deal won’t happen. POSCO deal was not just about a normal sale, but it came at a time to confirm the future and the huge demand for Galaxy products and boost the confidence in the SVD quality of one of the best underdeveloped mine in the world. It has also proved that the constant arguments of the shorters are not valid.
I believe we are with the right company. Day to day is just a noise. Year on Year is just a bright future and fantastic return. Go Galaxy Go
Cheers, Sydney
GXY Price at posting:
$2.17 Sentiment: Buy Disclosure: Held
