Galaxy Resources Limited
Galaxy Resources Limited (Galaxy or Company) is a global lithium-focused resources company, with assets spanning Australia, Argentina and Canada. The Company is listed on the Australian Securities Exchange and has a market capitalisation of in excess of A$600 million.
Since June 2013, the current management team has taken the Company through a series of significant financial restructuring initiatives to strengthen and improve the balance sheet. In April 2015, Galaxy completed the divestment of its lithium carbonate processing plant in Jiangsu Province, China – a deal which carried an enterprise value of US$173.2 million. Galaxy is currently advancing plans to develop the Sal de Vida Lithium and Potash Brine Project (Sal de Vida) in Argentina, which is situated in the Puna Region, an area known as the Lithium Triangle and where Chile, Argentina and Bolivia meet, and which presently accounts for 60% of global lithium resources. Sal de Vida is a proven high quality resource and has excellent promise as a future, world leading low cost production facility.
The Company has a 100% interest in the Mt Cattlin Spodumene Mine near Ravensthorpe in Western Australia and the James Bay Lithium Pegmatite Project in Quebec, Canada, which was consolidated via an off market takeover bid for General Mining Corporation Limited (GMM) in July 2016.
Steinepreis Paganin acted for Galaxy on the successful bid for GMM, which involved the preparation of the Bidders Statement and associated documentation.