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Company News Summary

Galaxy Resources Reports Positive Cash Flow of $596,000 for the June 2017 Quarter

03 Aug 2017  |  19:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Reports - June 2017

Galaxy Resources reported positive cash flow of $596,000 for quarter ended 30 June 2017. Operating cash flow for the period was $(249,000). Payments for exploration and evaluation were $(2.54m). Investing cash flow was $965,000. Financing cash flow was $(120,000). Cash in hand at the end of the quarter was $40.36m. During the quarter, the Mt Cattlin operations transitioned into commercial production with ramp up and commissioning of the plant completed at the end of April. Mining operations achieved full production levels during the quarter, with total material movement of 571,638bcm of waste and ore, including 303,394wmt of ore at an average grade of 1.12% Li2O.

Consolidated Statement of Cash Flow for the Quarter ended 30 June 2017

Current Quarter $A'000- 30 June 2017 Year to Date $A'000-6 Months
Net Operating Cash Flows (249) (3,265)
Net Investing Cash Flows 965 (165)
Total Operating and Investing Cash Flows 716 (3,430)
Net Financing Cash Flows (120) 34,848
Net Increase (Decrease) in Cash Held 596 31,418
Cash at Beginning of Quarter/Year to Date 40,084 9,327
Cash at End of Quarter 40,362 40,362
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