Galaxy, Set to ‘Make Money’ in 2011, Seeks Projects
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Galaxy Resources Ltd., aiming to become the world’s fourth-biggest lithium-carbonate producer, expects to “make money” next year and is seeking new projects in Australia and Canada as demand rebounds.
Galaxy expects to be “cash-flow positive” around the end of 2011 and may have A$143 million ($131 million) in revenue in 2012 at full capacity, Iggy Tan, managing director of the Perth-based minerals explorer, said in an interview in Seoul. He declined to identify targets for new projects.