Galaxy Resources records quarterly production increase

Company News

by Kathy Skantzos

Mining company Galaxy Resources (ASX:GXY) has recorded an 11 per cent increase in quarterly production to 31 December 2017 compared to Q3 2017.

Sales increased 39 per cent in the December quarter compared to Q3 of 2017.

The average realised selling price before royalties and marketing fees increased 3 per cent for the quarter compared to the previous quarter.

The company said successful work has been completed at the Sal de Vida project with battery-grade lithium carbonate produced, and said work on the James Bay project feasibility study is advancing.

The company’s cash position is $59.7 million as of 31 December 2017, with no debt.

Shares in Galaxy Resources (ASX:GXY) are trading 1.16 per cent higher to $4.35.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.