Canaccord Genuity

Galaxy Resources Limited (ASX:GXY) is an Australian based, globally diversified lithium development and production company. Its primary assets are Mt Cattlin spodumene operation in WA, the Sal de Vida lithium brine development project in Argentina (100%) and the James Bay spodumene exploration project in Canada. The outcomes of the updated Definitive Feasibility Study for Sal de Vida are mostly in line with our expectations, re-confirming the viability of the 40 year, 25ktpa LCE project. While production costs have risen on the back of lower by-product pricing, a strong, long term outlook for lithium prices supports the development of what we see as one of the best quality, and most advanced, lithium brine projects globally. We maintain our BUY rating. You can read our updated report here: (VIEW LINK)


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