Mining News of Note Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: LoneClone who wrote (148381)	12/15/2020 2:53:57 PM
From: LoneClone	Read Replies (1) of 192522

Galaxy raises final A$38m, completes Sal de Vida lithium raising miningweekly.com 15th December 2020 By: Esmarie Iannucci Creamer Media Senior Deputy Editor: Australasia PERTH (miningweekly.com) – Lithium miner Galaxy Resources has completed the retail component of its entitlement offer, raising A$38-million as part of the company’s larger A$161-million capital raise. Galaxy in November announced plans to raise the funds to finance the Stage 1 development of its Sal de Vida project, in Argentina. The company on Tuesday said that the retail entitlement offer, which had been conducted on the basis of 1-for-14 at a price of A$1.70 each, had closed on December 10 raising some A$38-million. Combined with the A$123-million raised under the institutional component of the entitlement offer and a concurrent placement, total proceeds of the capital raise now stood at A$161-million. The Stage 1 development would consist of a brine evaporation and processing operation at Salar del Hombre Muerto, producing technical grade lithium carbonate. The Stage 2 project would be a duplicate of Stage 1, while the third stage would introduce the refining of the primary carbonate into battery grade. An updated feasibility study previously estimated that the project would require a capital investment of $474-million to produce some 25 000 t/y of battery grade lithium carbonate and 95 000 t of potash over a mine life of 40 years.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next