NMKEF - Galaxy Resources: Flush With Cash And Ready To Rock N Roll
Galaxy Resources (OTCPK:GALXF) just received some very positive news when it was announced that the transaction with POSCO was completed for the sale of northern tenements located in the Salar del Hombre Muerto of the Catamarca Province, in Argentina.
Galaxy will receive $271.6 million USD.
Source: Galaxy Resources February 2019 Press Release
Non-Core Assets Sold for a Premium
As a refresher, the tenements sold to POSCO are found in the northern basin (shaded in blue), adjacent to Galaxy's flagship lithium brine project, Sal de Vida, located in the southern basin (shaded in red).