Delays hit Mt Cattlin lithium mine output

GALAXY Resources is set to be in the best financial position in its life, with an operating mine, two advanced projects and almost A$500 million cash at year’s end, so while its share price gently sinks the lithium producer has confirmed the board is looking at capital management options to reward its shareholders.

Delays hit Mt Cattlin lithium mine output Delays hit Mt Cattlin lithium mine output Delays hit Mt Cattlin lithium mine output Delays hit Mt Cattlin lithium mine output Delays hit Mt Cattlin lithium mine output

Mt Cattlin.

Speaking this morning, managing director Anthony Tse said there was "a full spectrum of things to consider" including a share buyback or capital return, once the company closed both the sale of the Salar del Hombre Muerto lithium brine project in Argentina and found a partner for the adjacent Sal De Vida.
 
South Korea's Posco has a binding agreement to buy Salar del Hombre Muerto for a cash consideration of US$280 million, pending adjustments, and expects to make the final payments within weeks.
 
Prior to the end of the year  Galaxy wants to be in a position to finalise the ongoing JP Morgan Australia process for the adjacent Sal De Vida "at least fully-funded through to production".
 
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