Only a very small percentage of lithium exploration companies will actually ever get to the stage of having something that represents a potential commercial resources — not my words but those of Tim Richards of the Perth office of global accounting firm Deloitte. That comment came as part of a special report compiled for the annual Diggers and Dealers shindig (Australia’s more modest version of PDAC) that opened Monday in Kalgoorlie, the West Australian gold mining centre.
Before we get to Richard’s comments, we should note the mention in the report compiled for Diggers and Dealers concerning InvestorIntel member Galaxy Resources (ASX: GXY): it came in top of all West Australian mining stocks for share price growth in the year to June 30. GXY stock rose 1,555%, taking its market capitalization over the 12 month period from A$40 million to A$662 million…