WCA July 2011

Industry news

Galaxy attracts excess offers for A$120mn fundraising

the additional support they provide will further enhance value for CRHL shareholders.” Galaxy is now set to become a vertically integrated lithium company, from raw-product lithium production through to chemical processing and lithium-ion battery manufacturing. It expects to complete construction of its Zhangjiagang lithium carbonate processing facility, close to major markets, in time for commissioning later this year. The Jiangsu plant will use feedstock already being produced from the Mt Cattlin mine. Creat Resources Holdings Limited – Australia Fax : +61 3 6234 3884 Email : enquiries@creatresources.com Website : www.creatresources.com

Zhangjiagang in China, as well as to pay off debt. CRHL has taken its stake in Galaxy in line with its long-term strategy to diversify internationally as it continues appraisal of exploration assets in Western Tasmania. Galaxy is now positioned to become a leading integrated player in the rapidly growing market for lithium, heavily in demand as an essential element used in the manufacture of renewable batteries, particularly by the automobile industry. CRHL’s chief operation officer Rex Chow commented, “We offer our congratulations to Galaxy on its successful completion of the new fundraising. We welcome the arrival of more high-quality investors and believe

The AIM-quoted mining group Creat Resources Holdings Limited (AIM: CRHL) has welcomed a major fundraising completed by ASX-quoted Galaxy Resources Limited, in which it now holds a stake of approximately 11.78%. Galaxy raised A$120mn from three major institutional investors, Azure Capital, Morgan Stanley and Helmsec Global Capital, in a raising that attracted strong over-subscription worldwide, including from potential investors in Europe, Asia, the USA and Australia. It will use the money to ramp up production from its Mt Cattlin spodumene project in Western Australia and to complete the commissioning of its Jiangsu lithium carbonate processing plant at

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Wire & Cable ASIA – July/August 2011