UPDATE 1.45pm: Shares in Galaxy Resources jumped after it announced it had completed plant maintenance to allow its Jiangsu lithium plant in China to process higher grade spodumene feedstock.
Galaxy said the plant formerly operated solely on spodumene feedstock sourced from its Mt Cattlin operations near Ravensthorpe but had now transitioned to allow a wider range of feedstock.
"The modifications works were completed smoothly and the plant will now be operating on higher grade feedstock which is expected to enhance throughput capacity," the company said in a statement.
"The ongoing production ramp up is part of Galaxy's strategy to focus on delivering high-purity lithium products and a key component of the strategy to reach break-even levels of production at the Jiangsu Plant by the end of the year."
Galaxy also announced it had received a $918,000 reimbursement from the Australian Tax Office under the Research and Development Tax Incentive Program for the year ended December 31, 2012.
Galaxy shares were up 0.6 cents, or 17.65 per cent, to four cents at the close.