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GXY

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$3.51 galaxy resources limited

Viva Sal de Vida!, page-111

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sensible123

394 Posts.

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21/03/19

13:42

Post #: 37839175
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Originally posted by whisky49: ↑

"There is no point grand standing and inform the market that there will be multiple announcements due before year end and nothing happen."

Forget about what they said last year, it's history and they have already explained that it took longer than expected, which is normal and could be for any number of reasons..such as more parties coming on board , more options opened up with the sale to POSCO etc...management have the option of letting shareholders know what their expectations are , knowing that they are often never met for reasons largely beyond their control, ,or saying nothing at all which really pisses shareholders off..

Below is what was said 3 Weeks ago and is now relevant for this year, notice they have not put any timelines on it probably because of shareholders bleating , in fact if they can't find the right deal won't proceed at all...I'm sure they will...Going alone is an option but unlikely IMO.

"Galaxy appointed JP Morgan Australia as financial advisor to assist in evaluating potential strategic partnership and/or offtake opportunities to advance the development of Sal de Vida.
Throughout the second half of 2018, Galaxy advanced a comprehensive evaluation of strategic options in relation to Sal de Vida. Galaxy received several offers from potential strategic partners which are currently being evaluated in detail. Negotiations continue to progress, so the Board has resolved to formally extend the process timeline to ensure proper consideration is given to the strategic merits and proposed terms and structures of each of the offers. Given the superior quality of Sal de Vida as a long life, low-cost operation with excellent economics, Galaxy will only proceed with a strategic partner if the final terms of the relationship properly recognize the fundamental underlying value of Sal de Vida and the partner can add additional value to the Project either through technical and/or financial input."

Cheers Whisky

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JP Morgan was appointed almost 12 months ago to scrutinise the deal put forward by various suitors.
I tend to agree to JL it is way too slow/long to conclude a deal, any deal for that matter.
Let me put it in a simple way, it take 9 months to produce a baby, we are in month 15 now, people will start to ask questions, a lot of questions and doubts whether the baby will be delivered

GXY Price at posting: $1.95 Sentiment: Buy Disclosure: Held
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Viva Sal de Vida!, page-111

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