GLN - Galan Lithium

[greggles]

GLN is bouncing back this morning after some good news was announced. It's currently up 23.91% to 28.5c after gapping up at the open.

Is the bottom in for now?

 

[greggles]

Galan Lithium has started to stir once again following the announcement on 13 January that reported exceptional lithium assay results from recent sampling performed at its Pata Pila tenement. A follow-up announcement on 15 January reported further outstanding lithium assay results from its Rana de Sal tenement. These results confirm previous significant intercepts in drill data of high grade/low impurity lithium bearing brines from the Western Tenement project areas.

The maiden resource estimate of the Western Tenements is expected during Q1 CY2020, so it isn't far away now.

Today, GLN notified the market that Ganfeng Lithium International has joined the Company's share register via its wholly owned subsidiary GFL International Co., Limited. Raymond Liu is the Founding Partner of Havelock Mining Investment Limited. GFL is a major shareholder of Havelock Mining Investment Limited. Ganfeng is one of the world's largest and China's largest lithium compounds producer and the world’s largest lithium metals producer in terms of production capacity.

As a result of today's announcement GLN's share price is up around 18% to 23c.

Obviously some significant news flow to come in the next couple of months, so GLN could be one to watch in the short term.

 

[TechnoCap]

what a brilliant run over the past couple of months for this Lithium junior with nothing suggesting this will change anytime soon.
higher highs and higher lows in play
in at $0.585 and $0.78

 

[basilio]

Encouraging data review at the Greenbushes South Lithium project.

https://wcsecure.weblink.com.au/clients/galanresources/headline.aspx?headlineid=61028667

 

[TechnoCap]

Encouraging data review at the Greenbushes South Lithium project.

https://wcsecure.weblink.com.au/clients/galanresources/headline.aspx?headlineid=61028667

I believe in this stock and sense it will be a positive May if not an accumulation phase at minimum

 

[Dona Ferentes]

A Feasibility Study tender and analysis for Galan's 100% owned Hombre Muerto West Project has been completed and the study has been awarded to Hatch. Hatch is an independent, well credentialed firm that will work with Galan’s close knit, highly experienced group of consultants, including Ad-Infinitum, SRK and WSP, along with its own project teams set-up in Argentina, Chile and Australia.

The Feasibility Study is expected to be delivered in late Q4 2022.

They seem to be getting on with it: As planned, ponds construction for the pilot plant has commenced and progressing well with the aim for the pilot ponds system to be operational in Q1 2022. The ponds will be filled with HMW’s brine to continue with the tests of the evaporation process targeting high-grade lithium concentrations of 6% Li and low impurities.

has got to $2.00 , an all-time high. Was 40c a year ago

 

[TechnoCap]

A Feasibility Study tender and analysis for Galan's 100% owned Hombre Muerto West Project has been completed and the study has been awarded to Hatch. Hatch is an independent, well credentialed firm that will work with Galan’s close knit, highly experienced group of consultants, including Ad-Infinitum, SRK and WSP, along with its own project teams set-up in Argentina, Chile and Australia.

The Feasibility Study is expected to be delivered in late Q4 2022.

They seem to be getting on with it: As planned, ponds construction for the pilot plant has commenced and progressing well with the aim for the pilot ponds system to be operational in Q1 2022. The ponds will be filled with HMW’s brine to continue with the tests of the evaporation process targeting high-grade lithium concentrations of 6% Li and low impurities.

has got to $2.00 , an all-time high. Was 40c a year ago

????

 

[bk1]

GLN, volume building..

 

[houtman]

An informative presentation today by JP at the RIU conference.

GLN is my only holding in the Lithium brine space, all my other Li holdings are Spodumene.

They have -

• High grade -866mg/l
• Low impurity
• $38m cash
• and are looking to get early cash flow by producing and selling a 6% concentrate.

I've only dipped my toe in here.

 

[Dona Ferentes]

. ..has got to $2.00 , an all-time high. Was 40c a year ago

and heading back there.

Highlights:
• Galan has received firm commitments to raise A$18 million at A$0.46 per share
• Strong support received from offshore and domestic institutional and sophisticated investors, with the Placement oversubscribed
• Galan board and management to subscribe for A$1.5 million subject to
shareholder approval
• Funds will be used for ongoing HMW Phase 1 development costs, exploration and resource work, corporate overheads and working capital.

.
12 month low ... what joy for a small holder. Share the pain, and snubbed .

 

[Dona Ferentes]

and in Ring 3...

Trading halt is requested until the commencement of trading on Wednesday 7 August 2024 or earlier, pending the release of a clarifying announcement regarding an article that has appeared in The Australian Financial Review this afternoon.

... up 2c to 15c prior.

AFR running with some Texas crowd making an offer for GLN, way higher than present $60M market cap.

 

[Dona Ferentes]

AFR running with some Texas crowd making an offer for GLN, way higher than present $60M market cap.

and back to 12c...

Galan advises that it has not received a takeover bid but that it has received an unsolicited, confidential, conditional, non-binding indicative proposal from Energy Exploration Technologies, Inc. (EnergyX) in relation to a potential acquisition of Galan’s Argentinian lithium assets.

The Proposal is to acquire assets and real property held by Galan related to its holdings in Salar del Hombre Muerto and Candelas for US$50 million in cash, and common shares in EnergyX which EnergyX values at US$50 million. EnergyX is a corporation incorporated under the laws of Puerto Rico and its securities, including its common shares, are not quoted or traded on any stock exchange.

Under the Proposal EnergyX would also provide:
• US$50 million, which it is noted would not be payable to Galan but rather to EnergyX’s wholly owned subsidiary which would own the Project Assets, with those funds to be committed and wholly dedicated to completing the first commercial phase of lithium production at Hombre Muerto West and maintaining the Project Assets; and
• a 10% gross revenue royalty to Galan for 10 years starting from commercial production.

Galan has been seeking to negotiate a confidentiality agreement with EnergyX in respect of the Proposal. The confidentiality agreement currently sits with EnergyX. The Proposal is conditional on, amongst other things, completion of satisfactory due diligence and negotiation and execution of definitive, binding transaction documentation.

The Proposal remains subject to consideration by Galan’s board, and given the early stage nature of discussions and its conditionality, there is no certainty a transaction will eventuate. Given the Proposal contemplates the disposition of Galan’s main undertaking, Galan shareholder approval would be a necessary condition to completion under a binding agreement, if such an agreement were to eventuate.
.
Quack