First shipment through Esperance Port “major milestone” for Galaxy Resources

Trading in Galaxy Resources shares was temporarily halted on Tuesday, January 3 as the lithium miner scrambled to clarify comments managing director Anthony Tse had made around a potential asset sale.

In a story published in local media late Monday night, Mr Tse said the miner was considering selling a 30-40 per cent stake in its Argentinian Sal de Vida lithium project.

In a statement to the ASX on Tuesday afternoon, after which the shares recommenced trade, the company said that "as announced previously" it was "considering various development options" for all its assets, and that "at this stage there is nothing material to report".

Shareholders were also buoyed by news that Galaxy loaded its first shipment of lithium concentrate at Esperance Port in Western Australia, following the recommissioning of its Mt Cattlin mine near Ravensthorpe.

Galaxy said it was "a major milestone", and that it planned to produce 170,000 tonnes of lithium concentrate in 2017.

Galaxy was the second-best performing top 200 stock of 2016, surging by around 360 per cent over the year. It added another 5.7 per cent on Tuesday, January 3 to 55.5 cents.

Source: Jens Meyer via WAToday

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