Galaxy expectations remain intact

Galaxy on Wednesday reported that the Mt Cattlin operation, in Western Australia, maintained steady production during the third quarter ending September, with the mine producing 30 067 t of concentrate, in line with the 30 942 t produced in the June quarter.

Sales volumes declined from 26 030 t to 16 753 t in the same period.

Galaxy told shareholders that a further 15 412 t of concentrate was shipped at the start of October, with a further 15 000 t due for shipment later this week.

The company remains on track to achieve its full year production guidance of between 90 000 t and 105 000 t of concentrate produced, with production for the fourth quarter targeted at between 25 000 t and 35 000 t.

During the quarter under review, Galaxy also continued to de-risk its Sal de Vida project, in Argentina, by developing a simplified flowsheet, using mature technology, and by staging the development to smooth capital expenditure and to reduce risk.

The initial stages of the Sal de Vida operation is targeting lithium carbonate production through an evaporation and processing operation at the Salar del hombre Muerto site, while the final stage is targeting the purification of the ore into battery-grade lithium carbonate.