Galaxy Resources Limited
(ASX:GXY) has announced it has repaid all outstanding historical debt from the proceeds of a new 3 year debt facility.
The company said it is now in a strengthened financial position with net debt reduced to approximately $19 million.
The lithium company is now focussing on the restart of production at Mt Cattlin via a new collaboration with General Mining.
Galaxy Resources observed the company’s balance sheet and projects are well positioned in a very robust market.
Galaxy Resources recorded a net profit of $55.01 million at 30 June 2015.
