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.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.