Galaxy Resources Ltd Lithium growth opportunities

Lithium growth opportunities: Galaxy Resources Ltd (ASX: GXY) has premier global lithium opportunities with existing production and a world-class asset development pipeline. Operation had restarted at Mt Cattlin with expanded capacity, with an aim to generate substantial 100%-owned cash flows in 2017. This would lead the company to become a major global supplier of high quality lithium. GXY has also now achieved nameplate capacity at its Mt Cattlin spodumene operations wherein the throughput at its processing plant had averaged 210 dry tonnes per hour over the last seven days prior to reporting at the monthly average of a 79% utilisation rate. Further, the diversified project portfolio with hard rock and brine based lithium assets across Australia, Argentina and Canada further strengthened its position. The company is also well networked with key customers in the Asian lithium market. The stock price fell 22.6% in last three months (as at April 05, 2017) owing to sector-driven concerns and volatile conditions. However, GXY is expected to witness momentum given the drivers of growth relating to its production, exploration and development work.

 

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