Galaxy lease Mt Cattlin lithium mine to General Mining Corp for $1.95m pa

By Adam Page
Published: Monday, 09 February 2015

Galaxy’s focus for now is on attaining financial stability. The company has already agreed to sell its Chinese plant to Tianqi, now it is giving General Mining the option to buy its spodumene source in Australia for $30m.

ASX-listed Galaxy Resources Ltd. has granted General Mining Corp. a three-year lease to operate its Mt Cattlin lithium project in Western Australia.

Royalties for spodumene revenues will be shared equally subject to the companies entering into a more detailed agreement.General Mining has the option to purchase Mt Cattlin for $30m...

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