The Galaxy Resources Limited (ASX: GXY) share price started October strongly. As investor interest in mining shares flared across the board, the Galaxy Resources share price closed at $2.74 per share on Monday, a 5.38% increase from the close on September 29.
Galaxy Resources is an international mining company based in Australia. It has projects running in Australia, Canada and Argentina, with a primary focus on lithium production. It is also involved in hard rock mines and brine assets.
For the quarter ending 30 June 2017, positive cash flows of $596,000 were reported. In addition, there has been continued global and local interest in lithium and the role it plays in sustainable energy. Recent local news coverage on lithium products includes Tesla building the world's largest lithium-ion battery in South Australia. This has all contributed to the continuing rise of the share price of Galaxy Resources Limited on the ASX.
