Company News Summary | 21 Mar 2017

Click the print icon in your browser to print this report. Currency is in AUD unless otherwise specified

Galaxy Resources Announces Certified Grade of Lithium Concentrate Above Specification

08:31:00 | Associate analysts

Original annuncemenet:Certified Grade of Lithium Concentrate Above Specification

Galaxy Resources announced that it has successfully completed 2016 offtake supply obligations (contracted at 15,000dmt plus/minus ten percent) for its second customer. The MV Blessing SW sailed for China on 1 March 2017, with 13,700dmt of lithium concentrate. It is currently aiming to complete its 2016 contract offtake supply obligations with the upcoming third shipment - the laycan for that vessel has been nominated for mid-April 2017. Concluding this shipment, all future volumes shipped will then be on 2017 pricing terms, which is US$830 for 5.5% grade lithium concentrate product, rising to US$905 for 6.00%.

This report appeared on 2018 Morningstar Australasia Pty Limited

© Copyright 2018 Morningstar Australasia Pty Ltd ABN: 95 090 665 544 ("Morningstar"), AFSL no 240892. (a subsidiary of Morningstar, Inc.). This information is to be used for personal, non-commercial purposes only. No reproduction is permitted without the prior written content of Morningstar. Some of the material provided is published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO").

DISCLAIMER: To the extent that any of the content above constitutes advice, it is general advice that has been prepared without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain appropriate financial, legal and taxation advice before making any financial investment decision. If applicable, investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Please refer to our Financial Services Guide (FSG) for more information at FSG or phone Morningstar on 1800 03 44 55 to request a copy. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for any use or distribution of any of this information

DISCLOSURE: Employees may have an interest in the securities discussed in this report.