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Galaxy Resources Ltd.

Galaxy Resources Ltd. is an Australia-based global lithium company with production facilities, hard rock mines and brine assets in Australia, China, Canada and Argentina. Galaxy owns 100% of the Jiangsu lithium carbonate plant in China's Jiangsu province, the Mt Cattlin spodumene project near Ravensthorpe in western Australia and the James Bay lithium pegmatite project in Quebec, Canada. The company is also advancing plans to develop the Sal de Vida lithium and potash brine project situated in Argentina's lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production.

Expert Comments:

RB Milestone Group (4/14/15)
"Galaxy Resources Ltd. recently sold its operating asset in China, the Jiangsu lithium carbonate plant, to Sichuan Tianqi Lithium Industries Inc. for an enterprise value of $173.2M. This has significantly improved the company's balance sheet and provides it with considerable financial muscle to advance its Sal de Vida lithium and potash project."

"One company poised to benefit from the idea of optionality is Galaxy Resources Ltd. The company has recently closed on the sale of its Jiangsu lithium carbonate plant and now will have something in high demand in the mining business—cash in the amount of approximately AU$30M. Galaxy has also entered into a binding agreement with a company named General Mining Corp. to have it produce tantalum from the Mt Cattlin mine for a period of three years with the option to purchase the mine for AU$30M. Galaxy will generate cash—approximately AU$2.5M per year—plus a royalty from this agreement. . .optionality in the metals sector is a key strategy at this point in the cycle. Galaxy can go in a number of different directions." read more >

Management Q&A: View From the Top
Anthony  Tse
The new team at Galaxy Resources Ltd. has exerted fiscal discipline, consolidated assets and focused the company on its world-class Sal de Vida lithium project in Argentina, says Managing Director Anthony Tse, positioning Galaxy to supply a metal critical to the explosion in demand for modern electronics and transportation.
read more >
"Galaxy Resources Ltd. started producing with a very ambitious project. It started developing a spodumene deposit in Australia and a lithium plant in China. It also wanted to develop a lithium battery manufacturing plant. . .Galaxy has sold its Jiangsu lithium plant to Sichuan Tianqi Lithium Industries Inc. for $230M to focus on its Argentina and Australia projects. Galaxy is developing the Sal de Vida lithium brine and potash project in the Lithium Triangle. This project is not as advanced as the other projects in Argentina that I mentioned to you, but it's an interesting project." read more >

Tony Wiggins, E.I.M. Capital Managers (11/18/14)
"In August, Galaxy Resources Ltd. made the final payment to acquire outstanding land holdings over its Sal de Vida lithium brine project in Argentina, giving the company 100% ownership of the land covering areas of potential production and surface evaporation. . .the Sal de Vida prospect is located in the northwest of Argentina's 'Lithium Triangle' of established and developing lithium producers."

Experts Commenting on This Company


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Galaxy Resources Ltd. Content