Galaxy resources

Todo lo que subió muy fuerte, tiene que corregir, eso le pasó a Galaxy, que de varios centavos llegó a casi 80 (antes del split) y ahora está barata. En el corto hay especulación, pero para medio plazo pienso que es buena mantenerla. 

En este mismo hilo tienes mucha información de Galaxy y del litio

Un saludo

Galaxy anticipa un fuerte crecimiento de la demanda de litio

 - Anthony Tse, director gerente de Galaxy Resources Ltd, expuso un promisorio panorama para el mercado del litio en su presentación en Mines and Money 2015 (Londres).

La demanda de litio casi se cuadruplicará durante la próxima década, considerando los valores de 2014, gracias al crecimiento de la demanda de baterías para productos electrónicos, como a la nueva demanda de baterías para la industria automotriz y el sector energético. Esta afirmación fue realizada por Anthony Tse, director gerente de Galaxy Resources Ltd, durante la conferencia Mines and Money que se realiza en Londres.

El directivo de Galaxy sostuvo que proyecta que el consumo mundial de carbonato de litio equivalente (LCE) pasará de 150 mil toneladas en 2015 a 260 mil toneladas en 2020 y a 380 mil toneladas en 2025.

Según la presentación de Tse, el mayor consumo estará impulsado por una fuerte demanda de baterias, tanto del sector electrónico (dos tercios de la demanda actual), pero especialmente de otros sectores manufactureros.

En tal sentido, sostuvo que los mayores incrementos en la demanda de baterías de litio provendrían del sector automotriz y del sector de provisión de energía eléctrica, las cuales podrían representar el 50% de la demanda hacia 2020.

Al respecto, señaló que la progresiva reducción en los precios de los automóviles eléctricos impulsaría una mayor producción de baterías, lo cual queda reflejado en los proyectos de gigafactorias de Tesla, Foxconn y BYD.

Asimismo, la creciente presión por una mayor participación de energías renovables en la matriz energética elevará la demanda de medios de almacenamiento.

Galaxy Resources es propietaria del proyecto Sal de Vida, localizado en las provincias de Catamarca y Salta (Salar del Hombre Muerto), el cual se encuentra en etapa de factibildad y que tendría una capacidad de producción de 25.000 toneladas anuales de carbonato de litio y 95.000 toneladas de potasa.

Actualmente, se encuentra en proceso de restablecer la producción de su proyecto Mt. Cattlin (Australia), luego de su cierre en 2012 por la caída del precio del spodumene (concentrado de litio).

Buen tirón,sube más de un 8%, parece arrancar de nuevo tras noticias

http://www.proactiveinvestors.com.au/companies/news/181871/galaxy-resources-continues-to-drill-high-grade-lithium-in-canada-181871.html

Alan Rule, chief financial officer of lithium miner Galaxy Resources, said he had recently had meetings with some of the biggest traditional car manufacturers in the world about whether the product from its proposed Sal de Vida and James Bay projects would meet their specifications

Read more: http://www.afr.com/business/mining/electric-vehicle-battery-manufacturers-looking-to-invest-in-lithium-mines-20170807-gxqmbs#ixzz4p6AqsQyc
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   REUTERS
   
   Aug 7th 2017 at 4:30PM
   

   
   
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   LONDON - Producers of processed lithium — an essential element for batteries used in electric cars — are agreeing to long-term contracts with their customers to fund the investments needed to address a looming shortfall.
   
   Demand for battery-grade lithium compounds is expected to skyrocket in the next decades in tandem with soaring demand for electric cars as
   governments, individual consumers and automakers from
   BMW to
   Volvo try to reduce their carbon footprint. Lithium also has a role to play in
   power-grid storage systems from companies like Tesla, and could be used in future technology such as the
   solid-state batteries being pursued by Toyota and others.
   
   The production and use of electric cars is projected by Morgan Stanley analysts to rise to 2.9 percent of 99 million new vehicles in 2020 and to 9.4 percent of 102 million new vehicles in 2025, from 1.1 percent of 86.5 million this year.
   
   By 2050, 81 percent of 132 million new auto sales will be electric, Morgan Stanley says.
   
   
   
   
   
   Although there's plenty of lithium around, the problem is ensuring there is enough capacity to process it.
   
   Battery makers and other end-users such as car manufacturers will need to sign multi-year deals that encourage large producers to invest more, and faster, industry sources say.
   
   Some of that is already happening.
   
   "We've established the timeline for our own expansion based on the commitments our customers are making with us," said Tom Schneberger, global business director at U.S.-listed FMC Lithium, one of the world's top four producers.
   
   "Our first priority will be to provide the adequate supply of the high quality products upon which (our strategic customers) rely," he told Reuters.
   
   Expansion plans by Chile's Sociedad Quimica Y Minera (SQM), another of the top four, for next year are also based on long-term agreements, the company said.
   
   
   
   
   
   WHAT IT IS, WHERE IT COMES FROM
   
   The lithium-ion batteries needed to power electric cars use lithium carbonate or lithium hydroxide, but the industry typically talks in terms of lithium carbonate equivalent, which contains both.
   
   Two types of lithium deposits dominate.
   
   One is hard rock as found in Australia, for which ready-to-go capacity to produce battery-grade lithium can take up to three years. The other is brine, mostly found in Chile and Argentina, which can take seven years or more.
   
   China has reserves of both.
   
   Consultants Roskill estimate 785,000 tons of lithium carbonate equivalent a year will be needed by 2025, amounting to a 26,000-ton shortfall from anticipated supply, compared to 217,000 tons of demand versus 227,000 tons of supply this year.
   
   Others expect an even larger deficit.
   
   "There's limited visibility into where we're going to get the last 200,000 tons of lithium if we hit the numbers Roskill is expecting for 2025," said Seth Ginns, a managing director at Jennison Associates.
   
   Jennison manages more than $164 billion of investment and is a top 10 investor in both FMC and U.S.-listed Albemarle, another of the top four producers.
   
   "We estimate the lithium industry is going to need between $4 billion-$5 billion of investment out to 2025," said Simon Moores, managing director at Benchmark Minerals Intelligence.
   
   Price projections out to 2025 are not available, but Benchmark estimates prices of lithium carbonate will average $13,000 a ton over the 2017-2020 period from around $9,000 a ton in 2015-2016.
   
   Demand for lithium hydroxide, preferred over carbonate as it allows greater battery capacity and longer life, is expected to grow at a faster pace. Benchmark predicts the price to average $18,000 a ton between 2017-2020 against $14,000 in 2015-2016.
   
   
   
   FOUR COMPANIES DOMINATE
   
   Top producers are looking at a bonanza if they can ramp up investment fast enough with end-user commitments in hand.
   
   "There are four names that dominate and that is likely to be the case for the next five years," said Jeremy Kent, a portfolio manager at Allianz Global Investors.
   
   Roskill managing director Robert Baylis estimates FMC, Albemarle, SQM and China's Tianqi Lithium Corp. together accounted for 66 percent of the world's lithium carbonate equivalent last year. Wood Mackenzie consultant James Whiteside puts the figure at 78 percent.
   
   FMC's lithium hydroxide capacity rose 80 percent in 2017 to 18,000 tons a year, and it has plans to boost that to 30,000 tonnes by the end of 2019. After that, capacity will be expanded as required by demand, FMC's Schneberger said.
   
   Albemarle is planning to expand its lithium carbonate equivalent capacity to 165,000 tons by 2021 from 89,000 tons this year, a spokesperson said. "We anticipate spending $700 million and $1 billion over the next 5 years."
   
   
   
   
   
   SQM said in an email it was planning to invest $50 million to expand its lithium carbonate capacity in Chile to 63,000 tons by 2018 from 48,000 tons currently. It also has joint ventures in Argentina and Australia to develop deposits.
   
   Tianqi Lithium declined to comment on its investment plans.
   
   Another company actively investing is Australia's Orocobre, which planned to produce 17,500 tons a year of lithium carbonate at its Olaroz facility in Argentina.
   
   Severe weather cut this year's production to 11,700-11,800 tons, however.
   
   Whiteside said Orocobre's difficulties were typical of many smaller players, noting that the Olaroz facility was the first new major brine operation started in 20 years.
   
   "Because the number of brine operations has been so few historically, there are very few technically experienced chemical engineers to assist these junior companies," he said.
   
   "There are people out there promoting brine projects with plans that are not as robust as they should be."
   
   Reporting by Pratima Desai and Zandi Shabalala; additional reporting by Rosalba O'Brien and Tom Daly.

   
   
   • Image Credit: Workers in a boat at lithium brine pools in Chile. Reuters
   
   

   
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• Aug 25 2017 at 12:15 AM
• Updated Aug 25 2017 at 12:15 AM

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Galaxy brings Goldman into its defence orbit

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The price divergence between global and local lithium stocks has spurred some Australian listed companies into action.

Street Talk understands one of those is Galaxy Resources which has brought Goldman Sachs into its tent as a defence adviser. 

This column is not suggesting Galaxy has received an approach or is about to. But against the current backdrop, it makes sense for Galaxy to shore up its advisory team.

Certainly, shares in Australian lithium players haven't experienced the same boost as their global rivals in 2017, which in theory could make this market a happy hunting ground.

Kidman Resources' market capitalisation is hovering at circa $213 million, making it easy prey for a large global predator. Galaxy's shares rallied as high as $2.46 in May this year and on Thursday were changing hands at $1.755, giving the company a market cap just shy of $700 million. 

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In March, Galaxy was among several Australian lithium aspirants named in a presentation released by US lithium giant Albemarle that ranked the asset quality of the world's lithium mines.

Albemarle and other majors, which have traditionally produced lithium from brines, have been prowling Western Australia for hard rock lithium assets they can take a stake in, or take out completely.

While brine-based lithium is cheaper to produce, sources have said Asian battery manufacturers have stated a preference for the higher quality lithium derived from hard rock assets, driving brine-based companies and upstream players to look at deals they would not have previously considered.

Chile's SQM acquired half of Kidman Resources' Earl Grey lithium project for $US110 million in July, and a number of Chinese lithium and chemicals companies have stakes in West Australian projects. Local miners have also talked of battery and car manufacturers being keen to secure supply.

Galaxy has the hard rock Mt Cattlin mine in WA but its wider geographic footprint and production diversification may broaden its appeal. It also has the James Bay hard rock development project in Canada and the Sal de Vida brine development project in Argentina. 

Galaxy's chairman Martin Rowley knows the Goldman resources team well. The investment bank is also the defence adviser for First Quantum, which Rowley co-founded and was a director of until earlier this year.

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Read more: http://www.afr.com/street-talk/galaxy-brings-goldman-into-its-defence-orbit-20170823-gy2wvt#ixzz4qhYNjLIB
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Resultados, todo va por buen camino

http://www.asx.com.au/asxpdf/20170830/pdf/43lw1pz2037g6w.pdf

Diggers and Dealers: Car makers cut out China in race to secure lithium, says Galaxy

 August 2017 11:00AM

Galaxy Resources chief financial officer Alan Rule says the lithium miner has been in direct contact with major US and European car manufacturers looking to lock in a secure supply of lithium for batteries that will power their electric vehicle models in the years ahead.

Echoing comments by the managing director of fellow lithium miner Pilbara Minerals, Ken Brinsden, at the Diggers and Dealers Mining Forum in Kalgoorlie yesterday, Mr Rule told delegates the big auto manufacturers had done their homework and didn’t want to be caught short.

“They have told us that they have done due diligence on 200 aspiring lithium miners in the world and believe only 10 of them will survive,” he said.

“Not all deposits are of the right quality. They need battery-grade lithium and they want to deal directly with miners because they don’t want to be beholden to Chinese suppliers.”

Mr Rule also noted it was difficult for aspiring miners with greenfields lithium projects to secure finance, citing the examples of Pilbara Minerals and Altura Mining being forced to go to the high-interest bond market for project financing.

“So supply going forward is the problem,” he said.

Mr Rule said the strong demand for lithium and the company’s existing cash flow from its Mt Cattlin spodumene project near Ravensthorpe put Galaxy in a strong position to secure finance, equity partners and offtake agreements for the company’s Sal de Vida lithium brine project in Argentina and its James Bay spodumene project in Canada.

Galaxy would spend $5 million on each project this year.

Meanwhile at the company’s Mt Cattlin project, Mr Rule said the company was working on lowering costs and improving recovery rates.

He said the project was operating at a 170,000tpa run rate and the company was aiming to boost recoveries from 61 per cent to 70-75 per cent and lower costs to below $US300/t. He gave cost guidance of $US325-$US350/t in the year ahead.

Low operating costs and strong prices for its spodumene concentrate product ($US770/t) meant Galaxy was generating $US70-$US75 million in free cashflow a year from Mt Cattlin, Mr Rule noted.

Galaxy shares were down 2.5¢, or 1.25 per cent, at $1.975 at 10.55am.

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Is Galaxy Resources Limited’s (ASX:GXY) Balance Sheet Strong Enough To Weather A Storm?

Scott Perkins August 31, 2017

Investors are always looking for growth in small-cap stocks like Galaxy Resources Limited ( ASX:GXY), with a market cap of $700.24M. However, an important fact which most ignore is: how financially healthy is the company? The significance of doing due diligence on a company’s financial strength stems from the fact that over 20,000 companies go bankrupt in every quarter in the US alone. Here are few basic financial health checks to judge whether a company fits the bill or there is an additional risk which you should consider before taking the plunge. Check out our latest analysis for Galaxy Resources

How does GXY’s operating cash flow stack up against its debt?

 

Unxpected adverse events, such as natural disasters and wars, can be a true test of a company’s capacity to meet its obligations.These catastrophes does not mean the company can stop servicing its debt obligations.Can GXY pay off what it owes to its debtholder by using only cash from its operational activities? In the case of GXY, operating cash flow turned out to be 0.54x its debt level over the past twelve months. A ratio of over 0.5x is a positive sign and shows that GXY is generating more than enough cash from its core business, which should increase its potential to pay back near-term debt.

Can GXY pay its short-term liabilities?

 

In addition to debtholders, a company must be able to pay its bills and salaries to keep the business running. As cash flow from operation is hindered by adverse events, GXY may need to liquidate its short-term assets to meet these upcoming payments. We should examine if the company’s cash and short-term investment levels match its current liabilities. Our analysis shows that GXY does have enough liquid assets on hand to meet its upcoming liabilities, which lowers our concerns should adverse events arise.

 

Is GXY’s level of debt at an acceptable level?

 

While ideally the debt-to equity ratio of a financially healthy company should be less than 40%, several factors such as industry life-cycle and economic conditions can result in a company raising a significant amount of debt. GXY’s debt-to-equity ratio stands at 2.37%, which indicates that the company faces low risk associated with debt. No matter how high the company’s debt, if it can easily cover the interest payments, it’s considered to be efficient with its use of excess leverage. A company generating earnings at least three times its interest payments is considered financially sound. GXY’s profits only covers interest 0.24 times, which is deemed as inadequate. Debtors may be less inclined to loan the company more money, giving GXY less headroom for growth through debt.

Final words

Although GXY’s debt level is relatively low, it has the ability to efficiently utilise its borrowings to generate ample cash flow coverage. In addition to this, the company will be able to pay all of its upcoming liabilities from its current short-term assets. Now that you know to keep debt in mind when putting together your investment thesis, I recommend you check out our latest free analysis report on Galaxy Resources to see what other factors for GXY you should consider.

7% arriba

http://www.google.com/finance?q=ASX:GXY

Why the Galaxy Resources Ltd share price is soaring today

Motley Fool Staff | September 1, 2017 | More on: GXY

The Galaxy Resources Ltd (ASX: GXY) share price is up 7% today after the lithium miner reported a positive cash flow of $7.6 million on revenues of $14.1 million for the half-year period ending June 30, 2017.

After a $61 million capital raising conducted in February 2017 the company also has a healthy balance sheet of $40.3 million in cash in hand to invest in expanding its lithium mining operations in Argentina and Australia.

Just prior to Galaxy releasing its results it had more than 11 per cent of its shares sold short by speculators betting that they were likely to…

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The Galaxy Resources Ltd (ASX: GXY) share price is up 7% today after the lithium miner reported a positive cash flow of $7.6 million on revenues of $14.1 million for the half-year period ending June 30, 2017.

After a $61 million capital raising conducted in February 2017 the company also has a healthy balance sheet of $40.3 million in cash in hand to invest in expanding its lithium mining operations in Argentina and Australia.

Just prior to Galaxy releasing its results it had more than 11 per cent of its shares sold short by speculators betting that they were likely to fall. The stock is up 15 per cent since it reported on August 28 and part of the price rise is probably related to the short sellers being forced to by back their shares in reaction to the strength of Galaxy’s results.

The company produced 14,038 tonnes of lithium in June, which equates to an annual run rate of 168,000 tonnes. Galaxy has a market value around $750 million and its shares may remain volatile over the next 12 months.

Cristian Senger: "La producción mundial de baterías es insuficiente para nuestros objetivos"

En el cargo desde hace un año, su objetivo es que VW sea líder de eléctricos

Para esta meta se fija como plazo, como tarde, el inicio de la próxima década

El futuro de Volkswagen es eléctrico

El grupo Volkswagen quiere vender 3 millones de eléctricos en 2025

Para el Grupo VW en general y para la marca Volkswagen en particular la nueva plataforma  MEB (Plataforma Modular Eléctrica), que es la base de todos los futuros coches eléctricos del consorcio, tiene una gran importancia. Es precisamente el proyecto que lidera  Christian Senger, ex ingeniero de BMW y de Continental, que hace nueve meses se vio atraído por el objetivo de su nueva empresa de convertirse en el primer fabricante de automóviles del mundo de vehículos eléctricos.

Para lograrlo ha optado por diseñar coches que aprovechen las particularidades de la tecnología eléctrica. Explica que han estado escuchando "a  los usuarios del Golf eléctrico actual que nos han hecho unas peticiones muy sencillas: mayor autonomía, menor precio y un proceso más fácil de recarga de las baterías. La plataforma MEB es nuestra respuesta.  Los 400 a 600 kilómetros de autonomía serán probablemente suficientes para la mayoría de usuarios. Es cierto que la nueva generación del e-Golf será capaz de hacer 400 kilómetros entre cargas, pero manteniendo bastidores y carrocerías de modelos con motor de combustión interna nos va a ser casi imposible incrementar el número de baterías o añadir nuevas tecnologías en este sentido".

Niega que la estrategia de eléctricos sea una respuesta al dieselgate aunque haya coincidido en el tiempo pues, por un lado, señala la evolución de  la demanda cada vez mayor de estos vehículos en China, y por otro, el endurecimiento de las normas sobre emisiones que van a penalizar a los coches con motores de combustión interna imponiendo que, en el caso del Grupo VW, entre el 20% y el 25% de sus modelos vayan a ser de cero emisiones.

Senger ha partido de cero al realizar la plataforma. Admite que hay algunos componentes que se han tomado de modelos ya existentes pero habla de soluciones específicas porque es necesario crear espacio para las baterías y para instalar el motor eléctrico en la parte posterior, con toda la electrónica (lo que reduce la complejidad y los costes). "Pero las cerraduras de puertas pueden ser de la gama actual de modelos", bromea.

"Queremos la democratizar de la movilidad eléctrica"

Todo esto ha sido hecho teniendo en cuenta un objetivo de bajos costes de producción, por ello argumenta que "nuestro principal objetivo es la democratización de la movilidad eléctrica y hacer que sea un bien asequible. Es decir que en VW  no hay margen para utilizar materiales de gama superior como puede ser la fibra de carbono que está empleando BMW. Mantendremos nuestro concepto de producir un vehículo ligero, pero usando principalmente aceros de muy alta rigidez y aluminio".

Cuando lleguen al mercado se van a encontrar con una competencia encabezada por  General Motors (GM) que ha sorprendido al mundo con un coste de 142 euros por kilowatio/hora para  las baterías Opel Ampera-e [Chevrolet Bolt en EEUU] que, supuestamente, les debería permitir vender su coche eléctrico por poco más de 30.000 euros (antes de incentivos, cuando existan), sugiriendo también que el volumen de producción elevado (el coche saldrá a la venta en todo el mundo) es clave. Sobre este tema, Christian Senger explica que en VW tienen "dos líneas de reducción de costes. En primer lugar, es una cuestión de simplificación: los vehículos actuales, como el e-Golf, como ya habíamos insinuado, tienen un espacio limitado para instalar baterías. Y esto nos obliga a tener que diseñarlas con una gran complejidad. La plataforma MEB tiene una tableta de chocolate -es lo que parece el conjunto de celdillas que forman la batería- debajo del compartimiento de pasajeros que es muy fácil de integrar. Y luego, es verdad,  es muy importante que lleguemos a grandes volúmenes de producción y es por eso que hemos fijado el objetivo de ser los primeros fabricantes de coches con una producción de más de un millón de vehículos eléctricos al año en 2020".

Otro 7% arriba, en un par de dias, nuevo cargamento de Litio para China

Otro buen cierre, 4% arriba con gran volumen

We’re Going to Need More Lithium

There’s plenty in the ground to meet the needs of an electric car future, but not enough mines.
By Jessica ShanklemanJessica Shankleman, Tom BiesheuvelTom Biesheuvel, Joe RyanJoe Ryan, and Dave MerrillDave Merrill
September 7, 2017
Starting about two years ago, fears of a lithium shortage almost tripled prices for the metal, to more than $20,000 a ton, in just 10 months. The cause was a spike in the market for electric vehicles, which were suddenly competing with laptops and smartphones for lithium ion batteries. Demand for the metal won’t slacken anytime soon—on the contrary, electric car production is expected to increase more than thirtyfold by 2030, according to Bloomberg New Energy Finance.
https://www.bloomberg.com/graphics/2017-lithium-battery-future/