Galaxy’s Mt Cattlin delivers record Q4 lithium output

16th January 2018 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

JOHANNESBURG (miningweekly.com) – ASX-listed Galaxy Resources has reported record production from its Mt Cattlin operations, in Ravensthorpe, Western Australia, during the quarter ended December 31, on the back of increased ore treated and continued improved process plant use.

The operation produced 52 139 dry metric tonnes (dmt) of lithium concentrate during the fourth quarter, an 11% increase from the third quarter, and represented an annualised rate of about 209 000 dmt a year of lithium concentrate.

Galaxy also highlighted the record sales of 58 094 dmt of lithium concentrate, an increase of 39% over the third quarter of 2017, with all four shipments of lithium concentrate at grade levels above contract requirements, and moisture and mica content levels below contract specifications.

Galaxy reported an average realised selling price, before royalties and marketing fees, of $868/dmt, a quarter-on-quarter increase of 3%.

Further, Galaxy entered into new binding long-term offtake contracts with multiple customers throughout Asia for 100% of the planned production of lithium concentrate from Mt Cattlin for five years starting in 2018.

During the fourth quarter, Mt Cattlin generated earnings before interest, taxes, depreciation and amortisation of A$34.2-million.

Overall, Galaxy ended the quarter with A$59.7-million cash on hand and a debt-free balance sheet.