Member Info for sniffer78

http://www.investegate.co.uk/creat-resources-hld--crhl-/rns/announcement-of-completion-of-major-asset-sale/201304041233215920B/

Yahoooooo Sale complete ;-)

I hope that does happen, Taz asset sale due anytime GLA

Shouldn't be to long to wait now very close

you got email address

on the board of Galaxy clever men I wonder what they have up there sleeve for us, also note they stepped down from CRHL board last summer I wonder why well. T/O with them on Galaxy board and CRHL board I'm sure that couldn't happen lol http://www.galaxyresources.com.au/corporate_management.shtml

Perth, Australia 26 February 2013 GALAXY’S JIANGSU PLANT ACHIEVING STABLE PRODUCTION Highlights  Jiangsu Plant has been at full operation with stable production  Producing battery grade lithium carbonate, meeting all specifications  Sales of technical and battery grade lithium carbonate recommence  Jiangsu ramp-up program recommences Following the recommencement of operations at the Jiangsu Lithium Carbonate Plant (“Jiangsu” or “the Plant”) on 8 February 2013, Galaxy Resources Ltd (ASX: GXY) (“Galaxy” or “the Company”) advises that the Plant has been fully operational and producing battery grade lithium carbonate product without any major disruptions. Sales of both technical grade and battery grade lithium carbonate have also recommenced. Production at Jiangsu is stable and testing has shown that the lithium carbonate is meeting the tight quality and purity specifications demanded by battery cathode manufacturing customers. The kiln at the front end of the Plant has been very stable with 100% online time since the recommencement of operations. The recently installed kiln lifters are also allowing the kiln to operate at close-to-design feed rates and with improved levels of natural gas usage. The precipitation plant has also been re-established and is achieving production rates reached prior to the November 2012 accident, and will continue to be ramped-up in the coming weeks. Galaxy Managing Director Iggy Tan said that it has been a very difficult and emotional quarter for Jiangsu and Galaxy staff, but it is a credit to the Jiangsu team to have brought Jiangsu back online so quickly and efficiently. “Jiangsu is now producing at a stable rate and, importantly, producing the desired battery grade lithium carbonate. We will now continue to increase production and sales as part of Jiangsu’s ramp-up program,” Mr Tan said.

I do indeed believe that was always the plan to take over Galaxy, CRHL has been used as a tax break by Creat Group in my opinion. Galaxay has now shut Mount Cattlin in Aus, as it's cheaper to buy from Talison than produce there own and is a higher grade. Also by doing this it's makes it more likely for Creat Group/Chinese's T/O because they have no Aus operations only operations in China/Canada/Argentina. This would now be more likely to be passed by the FIRB. Lets see what happens over the next 2/3 months with Galaxy because my gutt feeling is if not the Creat Group/CRHL someone else will come along and try and take them out, and they will be Chinese imo. Also Creat Group are Government backed. Also note from results directors expect to be able to pay back loans in May 2014 think about it if they take over Galaxy they will be able to because revenues per annum from Galaxy would be around 120/140 million by May 2014. http://www.firb.gov.au/content/who.asp?NavID=48

Chinese are all over Galaxy who are CRHL'S backers, Chinese Creat Group of course two of the directors on the Galaxy board all exciting stuff. http://www.abc.net.au/rural/news/content/201303/s3719688.htm http://www.galaxyresources.com.au/documents/SeymourPierceGalaxyReportSep12_000.pdf http://www.galaxyresources.com.au/documents/GalaxyRoadshowPresentationFinalSep12_000.pdf http://www.galaxyresources.com.au/

Galaxy down to $0.33 lm thinking CRHL will buy more Galaxy with the $4 million now that would be a good investment. Also with agreeing a deal with Tailson on http://www.newswire.ca/en/story/1131369/galaxy-secures-spodumene-supply-agreement This deal with save GXY $27 million per anum from a very good hotcopper poster. Jiangsu Plant needs 135K tons P/A feed in order to produce 17K tons Li-Carb. Talison's FOB price is about $200/ton less than GXY's production cost. 135K x $200 = $27 mil. keep in mind that Talison's Spodumene grade is a bit higher than GXY's. (Please refer to Talison's & GXY's previous reports) Nothing really has changed since last year with respect to Mt Catlin. A saving of $27 mil P/A should benefit the SP now unless those who have not done fundamentals panic. This move by GXY increases the probability of a Chinese take-over which should add value to GXY Cheers Moorookamick

CRHL Taz asset sale completion due Q1 2013 CRHL are selling up in Taz only keeping offices and some mining equipment. CRHL will receive $4/5 million and shortly after will receive $2.6 million bond. CRHL have sold 500k shares in Galaxy Res to keep the company going over the last 4 months, while they wait for asset sale to complete. Once Sale is complete some of the asset money will be used to pay off due loans and the rest will be invested in a new venture (which the search has long begun) GALAXY RES investment 37,834,912 shares at current price of $0.37 = $14 million CRHL current share price 0.40 and market cap of 2.5 million 667 million shares in issues but not many for us pi's which is why it moves so quick, up and down of course. The Creat Group hold 54% Galaxy investment is worth 1.5p at current price and $4 million asset sales 0.60p per share, SP should be around 1.6p as it is adding in $4 million 2.2p should be target after Assets sale so a lot of upside here, also Galaxy Q1 figures will be out in next 10 days. On full ramp up and problems ironed out come May/Jun Galaxy could have monthly revenues of $8.5/$9 million on industrail grade alone $6,600 per tonne. The next couple of months are huge for CRHL and Galaxy. Galaxys broker note values CRHLs stake at around $45 million :-) and there is no reason why Galaxy cannot hit it over the next 6/8 months GLA

If we disregard the shenanigans which have happened including Creat's partial sell down, the Chinese buying of Talison and the Talison supply contract a week later and now look at the fundamentals. At full production Jiangsu can produce 17K ton Li-carb. We do not know the plant's cost of production yet but as from yesterday we know that Talison Spodumene feed costs $365/ton FOB WA. $27 mil p/a saving on spodumene means 4.8 cents/share savings (560 mil shares.) Now let's assume that when Jiangsu becomes cash flow positive later this year that the market will pay a P/E of 10; that would lift the SP by 48c alone in cost cutting. The mothballing of Mt Catlin, IMO has three functions: (a) It improves GXY's bottom line for now. (b) It provides security of supply in case Talison builds its own massive Li-Carb plant later or decides on milking GXY later by jacking up the price. (Mt Catlin's costs have already been factored into GXY's SP for over a year because fundamentalists were doing their sums while the "sentimentalists were dreaming of lithium uses.) (c) It will serve better to get a GXY buy-out over the line because the FIRB will not see Mt Catlin as the second operating lithium mine to go into Chinese ownership; only a processing plant in China. I seem to think, however, that a group of high powered Creat executives & PHDs attached to a derilict tin mine in Tasmania and, up to recently, whose major Australian investment was a share of GXY is still suss in my mind. I have written to the FIRB months ago expressing concern about the Talison take-over but obviously the FIRB as of yet does not see Chinese ownership of the world's plumb hard rock lithium resource as a threat. But back to fundamentals: (1) GXY Market Cap is $205 mil as is Surely the Jiangsu plant is worth $120 mil and L1 assets are worth at least another $120 mil. Without Mt Catlin this would leave the break-up value of GXY $35 mil more than today's market cap and as shareholders we have to say to the Board and Mr Tan "What are you?" They are supposed to add value to our hard earned cash & not reduce it. Unless there is a silly Chinese offer soon, things should work out later in the year once the plant is up to full production, fundamentals click-in and there are no rubery figures. Cheers Moorookamick

It is mate and longterm investor on hotcopper is starting to see what I have said all along CRHL/Creat group to take over Galaxy :-) will post later. Also regards to sale completion could come anytime stand by your beds. 31 Dec 2012 $ Plant and equipment held for sale 522,823 Exploration and evaluation assets held for sale 250,000 Site works and other assets held for sale (i) 6,081,651 6,854,474 (i) In October 2012 a contract was entered into for the sale of assets associated with the mining tenements owned by the Company, as part of the agreement the purchaser acquired the mining licenses, fixed assets on the site and site works performed on the tenements in the past. Reversal of impairment During the year, as a result of a sale contract being entered into for the sale of mining tenements and associated assets the impairment on properties previously recognised was reassessed and the change in conditions gave rise to a reversal of this impairment. The amount of the impairment reversal for the half year ended 31 December 2012 was $6,081,651. At an Extraordinary General Meeting of the members all resolutions relating to the sale of the tenements was passed. The company has since taken the necessary steps to progress the deal which is expected to be finalised in or shortly after the first quarter of 2013.

Ask price ticking up, lets see if the breaks come off

Few more buys and this will jump sale completion due end of March could come any day now GLA

Sale still on track for Q1 mate should of been complete couple of weeks ago but for few some minor goverment issues, could come any day ;-)) bond will will follow shortly after the new owners have there bond in place ATB. Galaxy investment is worth 1.6p at current price and $4 million asset sales 0.60p per share, SP should be around 1.6p as it is adding in $4 million 2.2p should be target after Assets sale so a lot of upside here, also Galaxy Q1 figures will be out in next 10 days.

CRHL Taz asset sale completion due Q1 2013 CRHL are selling up in Taz only keeping offices and some mining equipment. CRHL will receive $4/5 million and shortly after will receive $2.6 million bond. CRHL have sold 500k shares in Galaxy Res to keep the company going over the last 4 months, while they wait for asset sale to complete. Once Sale is complete some of the asset money will be used to pay off due loans and the rest will be invested in a new venture (which the search has long begun) GALAXY RES investment 37,834,912 shares at current price of $0.41 = $15.5 million CRHL current share price 0.40 and market cap of 2.5 million 667 million shares in issues but not many for us pi's which is why it moves so quick, up and down of course. The Creat Group hold 54% Galaxy investment is worth 1.6p at current price and $4 million asset sales 0.60p per share, SP should be around 1.6p as it is adding in $4 million 2.2p should be target after Assets sale so a lot of upside here, also Galaxy Q1 figures will be out in next 10 days Lithium. On full ramp up and problems ironed out come May/Jun Galaxy could have monthly revenues of $8.5/$9 million on industrail grade alone $6,600 per tonne. The next couple of months are huge for CRHL and Galaxy. Galaxys broker note values CRHLs stake at around $45 million :-) and there is no reason why Galaxy cannot hit it over the next 6/8 months GLA

20 shares what code is that lol 8p lol RNS on the way maybe

54% Major Shareholder and backer of CRHL not many company's have the backing like this ;-) http://en.creat.cn http://en.creat.cn/andrejuice.asp http://en.creat.cn/raasblood.asp http://en.creat.cn/pingaoelectric.asp

CRHL has 37,834912 shares in Galaxy = %6.707 stake this is a fantastic investment and now up and running and will have revenues of $8/10 million per month Q2. Q1 revenues expected to be around $4/5 million due to plant not starting till mid Feb. 2012 Q4 revenues where $4.6 million due to plant shutdown after accident. Plant on ramp up and upgraded while plant was down in Q4 2012 and early Q1 2013. Cash flow positive Q3 http://www.galaxyresources.com.au/