Galaxy stars shining brightly: But is dimmer now

[Sparty]

I put this post up 3 years ago and a lot has gone wrong for Galaxy since then........ Perhaps a cautionary tale?

Around 5 years ago I bought an electric bike. A.K.A the "silent assassin" as electric bikes are very quiet and pedestrians tend to not hear them and step into their path. But there was a drawback- electric bikes powered by lead batteries are very heavy. Not a problem when you are zooming along, but try carrying one!

China has passed a new law, that will soon to come into force, that electric bikes cannot weigh more than 40kgs. This opens the door for the more expensive Lithium based batteries for e-Bikes as these are much, much lighter.

Galaxy will be producing electric bike batteries in 2012 and has signed off-take agreements with several Chinese bike manufacturers....

"Once complete, the Jiangsu plant will produce 17,000 tpa of battery grade lithium carbonate, the largest producer in the Asia Pacific region and the fourth largest in the world.

Galaxy is also advancing plans for a lithium-ion battery plant, to produce 350,000 battery packs per annum for the electric bike (e-bike) market.



read about Australian-Lithium

I hold GXY