GXY - Galaxy Resources

[Dona Ferentes]

remember Galaxy? .... up on today's Half Yearly

Galaxy is in a strong position to deliver Sal de Vida to the market in time for a forecast lithium demand surge

Lithium Market outlook
Short term remains challenging due to an inventory overhang throughout the value chain and an uncertain near-term outlook for most end markets due to COVID-19. With increasing pressure on lithium prices, producers and developers are slowing or stopping new mines and expansion projects. The deferred production will exacerbate the looming structural deficit in the lithium market.

Medium to long-term outlook remains attractive with significant stimulus packages in both the EU and China expected to drive an electric vehicle led lithium demand surge. Automakers remain committed to electrifying their fleets and many of the majors have recently reinforced their relationships with tier 1 battery manufacturers. Additionally, converters are securing feedstock for the medium term and expanding their production capacity.

A 10% gain today means bugger all. :5 year chart

 

[SuperGlue]

Looks like GXY is taking it's own sweet time to make a move on since I posted on 2 Sept. in:

https://www.aussiestockforums.com/threads/outstanding-breakout-alerts.835/page-128#post-1091741

Long term chart looks promising.

Please DYOR.

 

[Trav.]

@SuperGlue this has come up on several of my weekly systems as well and definitely one to watch.

 

[bigdog]

Galaxy Resources has been doing quite a bit of work on electric vehicles and their implications on battery materials. So at the moment, EVs are roughly at 5% penetration with a demand for battery materials. At the same time, you'd haven't seen a lot of supply due to depressed lithium prices. I think from here on, the commodity price has to increase to incentivize production.

 

[Dona Ferentes]

Orocobre and Galaxy will merge via a Galaxy scheme of arrangement, under which Orocobre will acquire 100 per cent of the fully paid ordinary shares in Galaxy. Galaxy shareholders to receive 0.569 new fully paid ordinary shares in Orocobre for each Galaxy share held.

Upon completion of the scheme, Galaxy shareholders will own 45.8 per cent of the fully diluted share capital of the combined entity and Orocobre shareholders will own the remaining 54.2 per cent, reflecting an at-market merger.

 

[Dona Ferentes]

Done deal.

Since April, all necessary approvals have been obtained to complete the merger effective from today 25 August 2021.
The merger has created a business that has the potential to be a Top 5 global lithium chemicals company with a highly complementary portfolio of assets delivering geographical and product diversification across brine, hard rock and vertical integration across the supply chain.

 

[bux2000]

Hi Dona,

Could I just ask a dim question, Say I owned 4000 GXY shares when they went into their trading halt, I will tomorrow own the equivalent $ value in ORE shares tomorrow. So less shares but to the same value or perhaps I just wait until tomorrow when I open my present ? ?..................or not ?

bux

 

[System]

On August 26th, 2021, Galaxy Resources Limited (GXY) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between GXY and its shareholders in connection with the acquisition of all the issued capital in GXY by Orocobre Limited.