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GXY, GALAXY RESOURCES LIMITED
blacksheep
post Posted: Aug 5 2018, 01:47 PM
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In Reply To: blacksheep's post @ Jul 31 2018, 12:10 AM

Battery boom skeptics seen driving short holdings in lithium miners
Reuters | a day ago |
extract
QUOTE
euters calculations show that the short positions in Australian lithium miners Galaxy Resources and Orocobre, among the country’s most-shorted stocks, amount to some A$260 million, but that is dwarfed by short positions in New York-listed Albemarle totaling around $1 billion.

“Galaxy and Orocobre are arguably the highest quality, largest and the most liquid of the Australian-listed (lithium) names. This higher market turnover and institutional ownership makes them more vulnerable to short selling, “ said Canaccord analyst Reg Spencer.

Canaccord has a buy rating on both miners, but acknowledged a poor pricing environment could further weigh on shares.

Galaxy and Orocobre have said that price weakness was largely seasonal and demand should pick up in the second half.

Falling lithium prices could slow development of notoriously complex brine projects, where lithium is effectively evaporated out of saltlake deposits. Orocobre suffered repeated delays and investors see potential for similar drags on Galaxy’s Argentine project, one fund manager said.

Shares in Galaxy are also being held back until a preliminary deal to sell some Argentine mining leases to steelmaker POSCO is signed off. The deal is expected to close next month.

Ben Cleary, portfolio manager at Tribeca Investment Partners in Singapore, expects POSCO to close the $280 million deal with Galaxy given its new focus on battery raw materials.

“I don’t see much risk of POSCO not closing the transaction…I would say the potential for a short squeeze on completion is high.”

http://www.mining.com/web/battery-boom-ske...lithium-miners/
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 31 2018, 12:10 AM
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SP has fallen to $2.89.

Shorts have been busy - 3 notable alerts in last 4 trading days. Current short position @ 24 July = 14.75%
https://www.shortman.com.au/stock?q=GXY

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: May 29 2018, 11:52 AM
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In Reply To: blacksheep's post @ Apr 30 2018, 02:54 PM

GALAXY AGREES TO SELL NORTHERN TENEMENT PACKAGE AT SAL DE VIDA FOR US$280 MILLION TO POSCO
QUOTE
Highlights
• Non-binding agreement executed with POSCO to sell a package of tenements in the northern basin of the Salar del
Hombre Muerto
• Galaxy retains 100% ownership of all tenements in the southern basin
• Cash consideration of US$280 million for approximately 1.58 million tonnes lithium carbonate equivalent (“LCE”) of
JORC compliant measured & indicated resources and 2.54 million tonnes of LCE of JORC compliant total resources
• Sal de Vida Project now contains approximately 4.09 million tonnes LCE of JORC compliant measured & indicated
resource and 100% of the previously announced reserves of 1.14 million tonnes LCE
• Funds available to Galaxy to progress Sal de Vida Project development in Catamarca Province

https://www.shortman.com.au/stock?q=gxy
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 30 2018, 02:54 PM
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Had to respond to media speculation in the Australian suggesting - "Galaxy to sell $460m lithium stake"

QUOTE
Response to Media Speculation
Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) notes the media speculation today regarding the Company’s Sal de
Vida lithium and potash brine project in Argentina (“Sal de Vida”).

Galaxy has appointed J.P. Morgan Australia Limited as its financial advisor to evaluate strategic options for Sal de Vida.
As previously advised to the market, the Company is currently in discussions with a range of parties in relation to potential offtake and
strategic partnership opportunities. These discussions are preliminary in nature and there is no certainty as to whether any definitive
transaction will eventuate from them. Galaxy will keep the market informed of any material developments in line with its continuous
disclosure obligations.

The Company released a Revised Definitive Feasibility Study for Sal de Vida on 22 August 20161, which supports a low cost, long life
project with robust economics. This revised DFS estimates:

 A post-tax net present value of US$1.416 billion at an 8% discount rate (US$1.043 billion at a 10% discount rate).
 Sal de Vida having the potential to generate average annual revenue of US$354 million and average operating cash flow of US$273
million per annum before tax (net operating cashflow of US$182 million after tax).
 Average operating costs of US$3,369 per tonne before potash credits and US$2,959 per tonne to produce battery grade lithium
carbonate.
 A total capital cost of US$376 million.

The Company confirms that all the material assumptions underpinning these estimates continue to apply and have not materially changed.
Galaxy expects to announce the results of an updated Revised Definitive Feasibility Study on Sal de Vida during May 2018, which shall
include updated economics for the project.


Still heavily shorted - #4 on Shortman's Top 100 - Current position 23rd April, 2018 15.11%
https://www.shortman.com.au/top
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 13 2018, 12:15 PM
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In Reply To: blacksheep's post @ Feb 3 2018, 07:28 PM

SP up 6.54% today @ $3.42/share currently.

Some speculation in the media re a lithium deal with BMW maybe helping the SP along? Whether or not it has legs time will tell
QUOTE
BMW may sign deal for Galaxy lithium
The Australian-13 hours ago
Demand for cobalt, nickel, manganese and graphite, also used to make cars, is also said to be high. Galaxy's Sal de Vida deposit is one of the world's largest undeveloped lithium brine deposits, with strong expansion potential.

https://www.shortman.com.au/stock?q=gxy
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: arty  
 
OZGAZ
post Posted: Feb 4 2018, 09:53 PM
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In Reply To: blacksheep's post @ Feb 3 2018, 07:28 PM

True Blacksheep and I will keep the powder dry come Monday and conduct some fence watching to see what pans out on the DJ



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Smile while TRADING it's only money... :)
 


blacksheep
post Posted: Feb 3 2018, 07:28 PM
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In Reply To: OZGAZ's post @ Feb 2 2018, 10:19 PM

Perhaps, but with the Dow Jones falling 600 odd points on Friday I think our stocks are in for a bit more pain come Monday- I may be wrong. Also the lithium story has come off the boil somewhat.
https://www.bloomberg.com/news/articles/201...op-markets-wrap



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
OZGAZ
post Posted: Feb 2 2018, 10:19 PM
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Must be getting close to oversold cool.gif



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Smile while TRADING it's only money... :)
 
blacksheep
post Posted: Jan 30 2018, 02:59 PM
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In Reply To: blacksheep's post @ Jan 17 2018, 10:02 PM

Updated chart. Seems Macquarie recently downgraded GXY from a Neutral to Underperform with a revised target price of $3-ish from a previous $4-ish - ouch! Maybe they've gone short?
https://www.shortman.com.au/stock?q=GXY
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 17 2018, 10:02 PM
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Posts: 6,217
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In Reply To: blacksheep's post @ Jan 17 2018, 07:58 PM

Lithium miners pull back on concerns prices have peaked
https://www.ft.com/content/4ab61d19-cedc-35...2d-c40eeda591fe



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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