Galaxy Resources Ltd Successfully reached nameplate throughput
Successfully reached nameplate throughput: Galaxy Resources Ltd (ASX: GXY) stock lost over 4.6% on April 04, 2017. The drop may have been partly related to some sector-driven volatility. On the other hand, the company has successfully reached nameplate throughput at its Mt Cattlin operations in Ravensthorpe, Western Australia. Over the last seven days’ throughput at Mt Cattlin had averaged 210 dry tonnes per hour at the monthly average of 79% utilisation rate. The reaching of design throughput completes the commissioning period ahead of schedule. The maximum plant throughput achieved so far this year was a rate of 219 dry tonnes per hour during a 24-hour period. Over the past week, the final product production rate has averaged 378 dry tonnes per day, with the best production day recorded in March of 488 dry tonnes. The company has planned further process improvements for throughout 2017 to further increase production. There also has been a change in interests by Director, Anthony Peter Tse in his performance options.
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