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Why the Galaxy Resources (ASX:GXY) share price is on watch



The Galaxy Resources Ltd (ASX: GXY) share price is one to watch in early trade after an update on its Sal de Vida lithium project in Argentina.

Why is the Galaxy Resources share price on watch?

Shares in the Aussie lithium miner could be on the move this morning after a resource and reserve update as well as a development plan update for the major project site.

Galaxy Resources today reported an increase in resources and reserves at the Sal de Vida site in Catamarca, Argentina. That comes on the back of assessing hydrogeological data from the drilling of two production wells at the site.

The revised Brine Resources has increased 27% from prior estimates to 6.2 million tonnes of lithium carbonate equivalent (LCE). Galaxy also…

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