Galaxy Resources Ltd Production update from Mt Cattlin Project

Production update from Mt Cattlin Project: Galaxy Resources Ltd (ASX: GXY) stock rallied over 5.45% on February 10, 2017 driven by their production update from Mt Cattlin Project. The group reported that they achieved 90% of nameplate throughput with peak feed rate at 95% of design. The group would further enhance their throughput from the Mt Cattlin Operations to reach the nameplate design of 210tph in few days. GXT would be shipping second lithium concentrate shipment in late February, with the vessel MV Blessing SW called for an estimated berth on or around 24 February. Meanwhile, the group boosted their capital position and raised over A$61 million to strengthen the balance sheet. Moreover, the group would be using these funds for development work at the Sal de Vida and James Bay projects.     

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