Galaxy said the number of interested parties in Sal de Vida had been whittled down from "several dozen" to seven, with assessments and site visits ongoing in the process being run by JP Morgan.

Such has been the interest that the once debt ridden company expects to be in a very strong balance sheet position for its third potential development, James Bay in Canada - given the expectation funding for the Sal de Vida development will come from the yet to be chosen joint venture partner.

James Bay too is already attracting interest from third parties, with Galaxy managing director Anthony Tse indicating on a conference call (held for the half-year result), that North American end users were in the mix.

Tse noted that on a snapshot, pro-forma basis Galaxy had north of US$350 million to its name given current cash, investments, and the binding $280 million sale of tenements in Argentina to POSCO said to transact next quarter.

Meanwhile Galaxy has signed-off on a net profit of $11.5 million for the half year ending June 30, with earnings up nearly 3000% to $42.4 million (on an EBITDA basis).

Shares in Galaxy were off 1% to A$2.90 in morning trade, capitalising the company at $1.18 billion.