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05-26-2010, 05:21 AM
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Galaxy Resources Limited (ASX:GXY) Mt Cattlin Project Update
Wednesday May 26 9:58 AM
Perth, Australia, May 26, 2010 - (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX: GXY (http://www.australian-shares.com/mining/GXY)) (PINK:GALXF), is pleased to provide an update on the development progress of its Mt Cattlin Spodumene Project. The project is on schedule and on budget.
The project safety performance has been excellent with no lost time injury incident to date and a frequency rate (LTIFR) of zero.
Since the last update in February, pre-strip mining has commenced and significant construction progress has been made at Mt Cattlin, including:
- Practical completion of the plant site earthworks and the main access road construction achieved.
- Both the Maintenance and Administration offices have been handed over.
- Concrete works largely completed with the ROM Bin pad and the wash down slab still to be completed.
- Handover of the various sections of the dry and wet plants were achieved on schedule.
- The fine ore bin was completed on schedule.
- S&N Civil completed the structural steel and external cladding of both switch rooms during April.
- Internal cladding of the crusher switch room was at 90% at month end.
- The fuel farm construction has been completed.
- All major contract packages have now been awarded.
- The construction of the onsite laboratory by SGS expected to be commissioned end of May.
Galaxy Resources Managing Director Iggy Tan said that the capital expenditure on the project is on budget.
"Pre-strip mining and construction at the Mt Cattlin Spodumene Project is progressing well, each ensuring Galaxy is on track to for commissioning of the onsite concentrate plant in the third quarter of 2010," Mr Tan said.
"The Company expects to record its first shipment of spodumene to China in Q4 2010 ahead of commissioning of its downstream, processing lithium carbonate facility."
For the complete Galaxy Resources announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/62948-ASX-GXY-492355.pdf
About Galaxy Resources Limited:
Galaxy Resources (ASX: ASX: GXY (http://www.australian-shares.com/mining/GXY)) is an emerging mining and chemical company focusing on lithium and tantalum production. Galaxy is at an advanced stage of developing its Mt Cattlin Lithium Project (hard rock spodumene) in Ravensthorpe, Western Australia. The Project encompasses a mine and minerals plant which will produce 137,000 tpa of 6% Li2O spodumene concentrate. Galaxy intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in China.
The Company is finalising plans to establish a lithium carbonate chemical facility in Jiangsu Province, producing 17,000 tpa of lithium carbonate.
To find out more about Australian Lithium companies please visit Australian-Lithium.com (http://www.australian-lithium.com/)
Edit (http://www.australian-shares.com/forums/vanilla/post/editdiscussion/6197)
Galaxy Resources Limited (ASX:GXY) Mt Cattlin Project Update
Wednesday May 26 9:58 AM
Perth, Australia, May 26, 2010 - (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX: GXY (http://www.australian-shares.com/mining/GXY)) (PINK:GALXF), is pleased to provide an update on the development progress of its Mt Cattlin Spodumene Project. The project is on schedule and on budget.
The project safety performance has been excellent with no lost time injury incident to date and a frequency rate (LTIFR) of zero.
Since the last update in February, pre-strip mining has commenced and significant construction progress has been made at Mt Cattlin, including:
- Practical completion of the plant site earthworks and the main access road construction achieved.
- Both the Maintenance and Administration offices have been handed over.
- Concrete works largely completed with the ROM Bin pad and the wash down slab still to be completed.
- Handover of the various sections of the dry and wet plants were achieved on schedule.
- The fine ore bin was completed on schedule.
- S&N Civil completed the structural steel and external cladding of both switch rooms during April.
- Internal cladding of the crusher switch room was at 90% at month end.
- The fuel farm construction has been completed.
- All major contract packages have now been awarded.
- The construction of the onsite laboratory by SGS expected to be commissioned end of May.
Galaxy Resources Managing Director Iggy Tan said that the capital expenditure on the project is on budget.
"Pre-strip mining and construction at the Mt Cattlin Spodumene Project is progressing well, each ensuring Galaxy is on track to for commissioning of the onsite concentrate plant in the third quarter of 2010," Mr Tan said.
"The Company expects to record its first shipment of spodumene to China in Q4 2010 ahead of commissioning of its downstream, processing lithium carbonate facility."
For the complete Galaxy Resources announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/62948-ASX-GXY-492355.pdf
About Galaxy Resources Limited:
Galaxy Resources (ASX: ASX: GXY (http://www.australian-shares.com/mining/GXY)) is an emerging mining and chemical company focusing on lithium and tantalum production. Galaxy is at an advanced stage of developing its Mt Cattlin Lithium Project (hard rock spodumene) in Ravensthorpe, Western Australia. The Project encompasses a mine and minerals plant which will produce 137,000 tpa of 6% Li2O spodumene concentrate. Galaxy intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in China.
The Company is finalising plans to establish a lithium carbonate chemical facility in Jiangsu Province, producing 17,000 tpa of lithium carbonate.
To find out more about Australian Lithium companies please visit Australian-Lithium.com (http://www.australian-lithium.com/)