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Old 04-17-2013, 01:37 PM
Sparty Sparty is offline
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Default Galaxy on path to become world's largest battery grade Lithium Carbonate producer

With the recent share market turmoil now could be the time to take a very close look at GXY.

JIANGSU PRODUCTION UPDATE

Highlights

 386 tonnes of lithium carbonate produced in first half (15 days) of April

 Average daily production rate of 26 tonnes, representing 55% of Plant's design output

 Follows monthly production of 425 tonnes in March

 Jiangsu Plant ramp-up continuing

Galaxy Resources Ltd (ASX: GXY) (Galaxy') advises that production at its Jiangsu Lithium Carbonate Plant (?Jiangsu? or ?the Plant?) in China has reached 386 tonnes in the first half (15 days) of April 2013.

Lithium carbonate output over that period has averaged 26 tonnes per day, which represents 55% of the Plant?s design capacity.

April's production rate so far marks a significant improvement on the previous month, as Galaxy ramps the Plant up to capacity output. Following re-commencement of operations at Jiangsu in February 2013, Galaxy recorded total production of 425 tonnes for the month of March, with average production rates of 14 tonnes a day (31% of design output).

Galaxy Resources Managing Director Iggy Tan said: "The recent shutdown of the Jiangsu Plant significantly affected the Plant?s production profile. However, we are pleased with the production rates in March and now April as we continue with the Plant?s ramp-up schedule."

Jiangsu's design capacity is 17,000 tonnes per annum, which will make Galaxy the largest lithium carbonate producer in China and the largest battery grade (99.5% purity) lithium carbonate producer in the world.
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