GXY 6.40% $3.51 galaxy resources limited

Very similar actually. A bit more than Cattlin. The difference...

  1. 2,767 Posts.
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    Very similar actually. A bit more than Cattlin. The difference is the harsher climate etc.

    From the website:

    The James Bay lithium pegmatite Project in Quebec, Canada contains indicated resources of 11.75 million tonnes grading at 1.30% Li2O and inferred resources of 10.47mt grading at 1.20% Li2O.

    Indicated
    11,750,000
    1.30
    Inferred
    10,470,000
    1.20
    TOTAL
    22,220,000
    1.28


    In a resource estimate issued in March 2011, Mt Cattlin’s total contained lithium oxide (Li2O) resource was 197,000 tonnes, the measured and indicated resource was 13.8 million tonnes and total resource ore tonnes were 18.18 million.

    (With the recent drilling it appears there is even more deeper down around 160m? But it's also a case of also being cost effective going after deep ore bodies in an open-cut scenario. ie. moving the overburden/waste first)

    In my mind this doubles the share-price and more if/when it becomes an active mine / processing plant.

    AADYOR.
    Last edited by shades2: 14/03/16
 
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