Galaxy Resources project financing substantially de-risked

Company News

by Rachael Jones

Galaxy Resources (ASX:GXY) says they have received multiple bids for a strategic partnership for development of their lithium brine project Sal de Vida.

Recent project development activities have been largely focused on the Front-End Engineering Design (“FEED”) and optimization phase.

The final tenement transfer deeds in relation to the sale of the northern tenement package at Salar del Hombre Muerto have been executed with POSCO.

Project financing has been substantially de-risked after transfers of the northern tenement package to POSCO for US$280 million

Shares in Galaxy Resources (ASX:GXY) closed 3.24 per cent higher at $2.23 on Friday.

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