Resource Wrap: 11 March 2010 – GXY, CAH
March 10, 2010
Galaxy Resources Limited (GXY) announced a 23% increase to its ore reserve for the Mt Cattlin Spodumene Project in Western Australia. The emerging lithium producer said the total “Proved” and “Probable” estimate has increased to 11.4 million tonnes at 1.05% lithium oxide, representing an increase from the previous reserve estimation of 9.3 million tonnes at 1.04% lithium oxide in September 2009.
Catalpa Resources Limited (CAH) reported a consolidated loss for the half-year ended 31 December 2009 of $3.68 million, deepening from a $3.27 million loss in the previous corresponding period. The gold explorer said sales revenue totaled $3.63 million. Catalpa said net assets increased from $44.61 million at 1 July to $108.028 million at 31 December, reflecting the merger with the Lion group of companies during the period.
Catalpa Resources Limited (CAH) reported a consolidated loss for the half-year ended 31 December 2009 of $3.68 million, deepening from a $3.27 million loss in the previous corresponding period. The gold explorer said sales revenue totaled $3.63 million. Catalpa said net assets increased from $44.61 million at 1 July to $108.028 million at 31 December, reflecting the merger with the Lion group of companies during the period.
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