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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.