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Lithium

OverOver

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#41
The interest in Australia has been waning since it hit it's peak
Thursday: Friday on has seen heavy selling pressure. Thursday
trading there ended a few hours ago with GXY down 0.045 cents AUD
with 24,404,782 shares traded. Ending price 0.60 cents AUD. Current
exchange: 0.60 = .4517 cents USD.

http://www.asx.com.au/asx/share-price-research/company/GXY

https://au.finance.yahoo.com/currencies/converter/#from=AUD;to=USD;amt=.6

This is important if you're buying ADRs of Australian companies. Right now I know .60 AUD = .4517 USD. It might not
when the U.S. markets open.

https://au.finance.yahoo.com/q?s=audusd=x

I'm not going to let this get close to .40 cents USD on me. I really like this company but I'm not
married to it as the saying goes. The funds and institutions just really skyrocketed into Galaxy.
There aren't that many lithium only companies in the world. BUT, Galaxy is a junior one mine company.
Argentina operation is going to be huge but still a couple years out. Canada...talk. Anything goes
wrong at Mt. Cattlin that causes a shut down and GXY is dead in the water until further notice.

In six hours I may be a former share holder.
 

Goldhedge

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#42

OverOver

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#43
I'm out. I had 100,000 shrs starting the year.

10,000 shrs @ .4546
20,000 shrs @ .45
5,000 shrs @ .4446

Unit cost was .2980

From Jan 1st until day

65,000 @ .4288 w/uc of .3520

After short term capital gains it looks like a bit over 7,300 for the net.

Not too bad. The rest of the stuff in my account is all messed up.
 

Goldhedge

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#44
Good job! Volume was 500K today so you were 1/5 of it.

What's capgains on short term holdings?
 

OverOver

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#45
Good job! Volume was 500K today so you were 1/5 of it.

What's capgains on short term holdings?
No, I only sold 35,000 shares on Thursday. From the 1st of the year up to Thursday I sold the other 65,000 shares.

The capital gains tax for short term gains is the same as a person's salary. So, whatever bracket you're in is the rate.

Galaxy did extremely well in Australia on Friday. Heavy selling pressure knocked the price down to 0.58 cents AUD early
but the rest of the session had the buyers come back strong and drove the price up to 0.64 cents AUD and ended the day
at 0.63 cents AUD, with 28,958,374 shares traded. I'm out and won't be getting back in but I have nothing but good to
say about Galaxy. A leaky faucet brought back to a class A value package that's actually in production...there aren't many
lithium producing companies in the world. Lithium is everywhere. Producing mines and processing facilities aren't

These are just possibilities going forward:
1. Galaxy takes on a brand name mining partner to move the Argentina project into production. I don't see anyway for them
to go it alone on this. But what company wants to just be partners in a project that is at least 2 years out for production? That's
playing catch up to a rising lithium price...and spending money to catch up to it. So, that leads us to....

2. Galaxy and Orocobre Ltd (ORE.AX), Australia's other lithium producing company merge. They are big and even though they are HQed
in Australia all their operations are in Argentina and starting in Mexico.

3. Flat out for money takeover by a monster international mining co. Australia is home to two of the biggest mining concerns
in the world. Rio Tinto (RIO.AX) and BHP Billiton (BHP) Either one of these monstrosities could make Galaxy a toe on one of
their feet real quick like.
 

Goldhedge

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#46
Heads up!

Sitting on support today.

Screen Shot 2017-03-07 at 9.41.29 AM.png
 

dacrunch

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#47
Been 10 years that I've stopped looking at charts... playing amateur "technical analysis" - because it seems that ALL the markets are "rigged"...