@nambo1 I think that the 40% shares priority arrangement for GXY holders in the prospectus may be the reason we are thinking that Galaxy established General Mining and also the mention in the Strategic Alliance agreement of having right to all non-lithium minerals.
BTW I believe that Strategic Alliance was purely for the Mongolia Kazak venture however it appears to have continued through. Considering the change of boards etc I wonder why they have kept going back to each other. Just thinking out loud. - The agreement was made in Iggy Tan's time 10 months after Michael Fotios had departed, though I doubt it was Iggy's doing as something like this unlikely to have been set up in the 10 months prior to his departure. Then Michael pops up in GMM June 2012 and one year later in June 2013 Anthony Tse takes on the interim role as Managing Director of GXY which is formalised in November the same year. Feb 2015 an announcement is made that General Mining is to move into Mt Cattlin http://www.galaxyresources.com.au/media/announcements/42wh1603pkzkh4.pdf
I never have understood why General cut Galaxy some slack, though, with all this in mind, I speculate that if Galaxy was going to fall apart, then Anthony Tse was going to give Michael Fotios back what he started before Iggy came along and that act of kindness saved Galaxy's backside when it happened, and to reward Michael and GMM the Strategic Alliance will come back into play when it comes to Sal De Vida. After all, Anthony said that Galaxy need a partner for 20 - 30% and look what what old agreement on lithium assets was.
I shall title the book "From Mongolia to Argentina."
Thanks for listening
GMM Price at posting:
44.5¢ Sentiment: Buy Disclosure: Not Held
