Galaxy flags record quarter of production results at Mt Cattlin

Company News

by Anna Napoli

Galaxy Resources (ASX:GXY) has today revealed its reached record quarterly production of 56,460 dry metric tonnes (dmt) from its Mt Cattlin, topping its production guidance of 45,000 – 50,000 dmt.

Galaxy says the Mt Cattlin production unit cash cost of US$337 per dmt produced makes it one of lowest costing lithium concentrate operations in the world.

During the period a total of 29,439 dmt of lithium concentrate shipped.

Galaxy has been focusing on enhancing product quality to reinforce Mt Cattlin’s market position as a reliable producer of high quality spodumene. The higher final product grade achieved in Q2 2019 has come at a small tradeoff to overall plant recovery.

Shares in Galaxy (ASX:GXY) are trading 6.11 per cent higher at $1.39.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.