CAPITAL MARKETS

Galaxy starts Mt Cattlin production

Construction crews demobilised from site

Andrew Hobbs

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The company started ore commissioning on November 11 with first lithium concentrate production starting the next day, with the company having now balanced its processing circuit and created a final operational “punch list”.

“Over the next two weeks the aim is for 24-hour continuous production with every seventh day scheduled for planned maintenance to review equipment performance,” Galaxy said.

Galaxy earlier said its construction crew would be substantially demobilised from the site throughout November, with a commissioning and maintenance crew to remain.

The company plans to start trucking lithium concentrate to Esperance Port before November 26, having last  month reduced the mica content to below 5% total mass in the finished concentrate.

Galaxy also took out another $A16 million loan facility from institutional investor OCP Asia last month, after an arrangement with company director Michael Fotios fell through.

Shares in the company closed down 2.8% or 1c to 35c yesterday. 

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