GXY (GALAXY RESOURCES LIMITED) 2009-04-28:
Galaxy Resources announced positive results from a Pre-feasibility Study into downstream processing of lithium carbonate from its Mt Cattlin Lithium-Tantalum project near Ravensthorpe. The Company announced that Net Present Value of the project ranges between $310m to $360m, close to a three-fold increase from "sale of spodumene only" study; results indicate that the project economics could be improved by locating the lithium chemical plant closer to lithium carbonate end markets and lower associated capital and operating costs; the Company is now in the process of investigating potential sites in China for the lithium chemical plant to process concentrate from Ravensthorpe; and the Chinese DFS for lithium carbonate processing is expected to be completed by end of Q3 2009.
Tuesday, April 28, 2009
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