Lithium players General Mining, Galaxy Resources shine THE...

Lithium players General Mining, Galaxy Resources shine

• THE AUSTRALIAN
• JANUARY 25, 2016 12:00AM
• Robin Bromby

A year ago its shares sold for 0.3c, it was surrendering its iron ore tenements and holding off on exploring its gold properties. Today those same shares will cost you 30.5c.

The secret? Lithium, one of the few stories investors still drool over as most of the remainder of resources sector is mired in pessimism.

While we still have a chance (and examples), this week it is time to check out some of the positive things going on.

The lithium space may not yet be as crowded as the graphite one but, thanks to the excitement about the lithium-ion battery as the answer to all our future energy problems, it is getting there. During the week General Mining (GMM) set out its planned $7 million spending program at the mothballed Mount Cattlin mine in Western Australia as part of its earn-in with owner Galaxy Resources (GXY). The latter has risen from 2.7c in mid-September to 20.5c on Friday. But a much better bet would have been GMM shares, trading this time last year at 0.3c; now they will cost you 30.5c. Investing $20,000 a year ago would have you now looking for a beach holiday home to buy....................

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