The problem is there is no easy way to get the graphite to Nome. There are no roads or rails to get it from the property to Nome.
The last time they dilluted for their Value Engineering they put it in their announcement. They put it there thinking it will take a little of the sting out of the dillution for us share holders so we think they actually are making progress. LOL
It refers to the Mt Cattlin project only.
Pursuant to the terms of the Agreement, the partnership on Mt Cattlin is subject to a A$25 million earn-in by GMM for a 50% equity interest in the Project and will see Galaxy receiving no less than A$6 million per annum in the first three years after commencement of production, as well as a 50% share of the operating cash flows. GMM had by 31 December 2015, already committed the first A$7mil of capital required to restart production at Mt Cattlin (representing the first A$7million tranche of the total A$25million commitment) and has now recommenced production at the Project by 31 March 2016. The completion of both of these milestones will now result in the transfer of a 14% equity interest in Mt Cattlin to GMM, the process of which is expected to be completed in April 2016. Do your DD this company has alot of potential!
What about Galaxy Resources? They will start producing in July of this year at their Mt Cattlin Mine in Australia, they also have contracts with China for the next to years signed. With their income the will be putting it in their Sal de Vida project in Argentina. Galaxy Resources is a company you should be doing your DD on.
It will be years before all the permitting and feasability studies are done. Lithium Americas will be producing lithium way before Pure Energy.