Galaxy Resources

Overview

Galaxy Resources Limited (ASX:GXY) is the world’s newest lithium producer. Galaxy Resources primary assets include the Mt Cattlin spodumene project in Western Australia, the Sal de Vida lithium brine project in Argentina and the James Bay spodumene exploration project in Quebec, Canada.

Galaxy Resources Company Highlights

• Diversified portfolio with three globally significant hard rock and brine based lithium assets across multiple geographies
• Restart of spodumene and tantalum production at Mt Cattlin at end Q1 2016
• Spodumene offtake agreement with Mitsubishi; near-term cash flow expected
• Flagship Sal De Vida Project in Argentina with market leading brine chemistry
• New management has transformed balance sheet, reduced net debt from over A$200m historically to A$20m today
• Highly credentialed Management and Board with strong networks in the key Asian lithium markets, having built a customer base of over 40 clients for the Jiangsu Operations
• Deep experience in project development, construction and operations – previously built out the Jiangsu Lithium Carbonate Plant, the largest design capacity and most technologically advanced in Asia, and the Mt Cattlin spodumene mine
• Robust lithium macro trends with surging demand from energy storage applications and lagging supply side