News Articles for Galan Lithium

The critical battery mineral – lithium - may be set for sustained higher pricing after a Chinese crackdown on illegal mining activity removed a chunk of supply from the market and triggered a price surge. The price touched its peak for this year of US$970 (A$1485) per tonne of the industry-standard 6 per cent spodumene concentrate, putting a welcome smile on the faces of lithium players.

Galan Lithium has announced a transformation partnership with US lithium expert Authium for a funding and offtake package that will propel its Hombre Muerto West lithium brine project toward first production. The deal includes a fully funded and operated plant to be supplied by Authium, eliminating a substantial US$41.5 million (A$65.5M) in capital expenditure for Galan.

This week's Bulls N' Bears ASX Runners of the Week is… Whitehawk Ltd, after it became a core cyber partner in a massive US$920M (A$1474M) US government contract. WA junior goldie OzAurum surged on results from its Cross Fault discovery next to Carosue Dam, Argent's cannabis-based epilepsy therapy was approved for prescription in Germany and Galan turned down an unsolicited $240M bid for its Argentinian lithium projects.

Galan Lithium has turned down a US$150 million (A$240M) cash offer from a Chinese-French combo to acquire its lithium brine projects in Argentina, labelling the proposal “opportunistic” and “undervalued”. The market responded swiftly, with Galan's shares soaring more than 50 per cent to a high of 16c per share - defying the broader ASX index and lithium market sentiment.

Galan Lithium has extended a 2019 resource estimate for its Candelas resource in Argentina from 685kt lithium carbonate equivalent to 1634kt LCE, an impressive rise of more than 138 per cent. Upgraded estimates put the Candelas LCE resource at an indicated 1284kt and an inferred 350kt, for a total 1634kt, boosting Galan's total combined resource for its Candelas and Hombre Muerto West projects to a world-class 9501kt LCE.

Galan Lithium has secured phase two permitting for its Hombre Muerto West and Candelas lithium brine projects in Argentina's world-class Lithium Triangle. The permit allows for expanded production of up to 21,000 tonnes per annum of lithium carbonate equivalent and sets the stage for Galan to scale its operations in line with a predicted lithium market bounce back.

Galan Lithium has rung the till for AU$25 million from a placement and a rights issue to support the completion of the first phase of lithium production from its Hombre Muerto West project in Argentina in 2025. The capital raise includes a firm commitment for AU$12 million through a placement at 10.5c per share and a non-renounceable entitlement offer aimed at raising an additional AU$13.3 million.

West Perth-based junior Galan Lithium will rattle the tin for the third time since late-January as it aims further develop its Hombre Muerto West lithium brine project in Argentina.

Galan Lithium has signed a memorandum of understanding with China-based Chengdu Chemphys Chemical Industry Co., paving the way for a US$40 million funding and offtake package at its Hombre Muerto West lithium brine project in Argentina. The package, subject to due diligence, will be in exchange for a five-year purchase agreement for Galan to deliver a total of 23,000 tonnes of lithium carbonate equivalent material.

Galan Lithium has announced it will not proceed any further regarding an unsolicited non-binding indicative proposal from Puerto Rico-based EnergyX.

With Galan Lithium's phase one pond inventories now sitting at 3200 tonnes of lithium carbonate equivalent (LCE) – up 15 per cent from last month – and its fourth and fifth ponds nearing completion, the company has continued to make strong inroads at its Hombre Muerto West lithium brine project in the Catamarca region of Argentina as it continues to push forward with finance and offtake agreements.

With its phase one ponds at 60 per cent capacity, Galan Lithium says its stocks at the Hombre Muerto West project in Argentina have grown to 2800 tonnes of lithium carbonate equivalent. With the project's construction stage reaching 40 per cent completion, the company has also today confirmed that is has moved closer to selecting potential offtake and funding partners for the operation.

West Perth-based junior Galan Lithium has appointed Ross Dinsdale as its chief financial officer, effective from July 10.

Shares in Galan Lithium fell by 19 per cent to 23.5 cents per share on Monday, following news the company intends to raise $14 million.

Galan Lithium says it already has a contained inventory of 1000 tonnes of lithium carbonate equivalent at its Hombre Muerto West project in Argentina as the initial evaporation process at the site builds steam. The company says about a third of the overall project has been completed, with total pond construction at 45 per cent and the first two evaporation ponds operating.

Galan Lithium has taken a major step towards selling product from its Hombre Muerto West lithium brine project in Argentina both locally and internationally after signing a crucial new deal with the Catamarca Government. Managing director Juan Pablo Vargas de la Vega and Catamarca Governor Raúl Jalil signed a commercial agreement that supports the grant of permits for the commercialisation of Galan's lithium chloride concentrate.

Galan Lithium has lifted the resource estimate for its 100 per cent-owned Argentine Hombre Muerto West lithium project to 8.6 million tonnes contained lithium carbonate equivalent at 859 mg/l lithium. The significant increase, the fourth since March 2020, amounts to an 18 per cent uplift in tonnes alongside another uptick in grade improving what was already one of the highest grade brine estimates in the country.

Galan Lithium has continued to ramp up its Hombre Muerto West lithium chloride project in Argentina, with evaporation in its first pond continuing, a second now filling up and construction of a third well underway. The company says the first pond already contains about 500 tonnes of lithium carbonate equivalent, with production planned to start in the first half of next year.

Galan Lithium has expanded its holdings near the world-class Greenbushes mine to 315 square kilometres after it received an exploration licence for a new tenement less than 30km south of the Western Australian lithium operation. Adding more than 40sq km to its current Greenbushes South project, the company says its latest acquisition contains historical tin workings associated with lithium-bearing pegmatites.

Galan Lithium says it has set the evaporation process in motion at its Hombre Muerto West lithium brine project in Argentina, with the earthworks and lining of its first pond officially complete. The company is targeting first-phase lithium chloride production at the operation in the first half of next year and continues to tick off key infrastructure milestones.

Galan Lithium is tapping investors for $19.5 million to help fund the phase 1 development of its Hombre Muerto West lithium brine project in Argentina.

Galan Lithium says it is just two weeks away from beginning the evaporation process at its Hombre Muerto West lithium brine project in Argentina with the initial filling of its first pond underway. The move marks the first major step of the long-term production schedule for the project where Galan is aiming to produce high-grade concentrate of up to 6 per cent lithium by the first half of 2025.

Galan Lithium is making impressive progress with the construction of its wholly-owned Hombre Muerto West lithium brine project in Argentina, with its first evaporation pond almost complete and liner installation underway. Filling the initial pond is expected this quarter, with the evaporation process for the operation – the first major step of the company's long-term production schedule – set to begin in the coming months.

Galan Lithium is on track to install the first pond of its Hombre Muerto West lithium brine project in Argentina before the end of the year, with 85 per cent of the construction process now complete. The initial filling of the pond is expected by the first quarter of next year and the project remains on track for maiden production in the first half of 2025.

Galan Lithium is on schedule for initial production at its Hombre Muerto West lithium project in Argentina by the first half of 2025, with construction of its first evaporation pond now 65 per cent complete. Pond liners have arrived on-site and installation is set to begin this month, ahead of filling the pools in next year's first quarter.

Galan Lithium says it has received several partnership approaches for offtake and strategic financing for the second-phase development of its Hombre Muerto West lithium brine project in Argentina. The interest follows a phase-one offtake and financing agreement with mining giant Glencore, with management saying the volume of direct enquiries highlights the strength of the long-term lithium market.

Battery mineral explorer Galan Lithium has struck an offtake deal and potential financing package worth up to US$100 million with global miner Glencore.

Galan Lithium has secured a binding offtake agreement with mining giant Glencore for the supply of up to 100 per cent of lithium products from phase-one production at its Hombre Muerto West project in Argentina. As a sweetener to the deal, Glencore has offered to provide a secured financing prepayment facility for US$70 million (AU$107 million) up to US$100 million (AU$154 million), subject to conditions.

Galan Lithium and ASX-listed joint venture partner Redstone Resources have snatched up a pair of exclusive projects in two of Canada's premier lithium provinces – a 5400-hectare patch in the rapidly-emerging James Bay region that is home to Patriot Battery Metals' gigantic Corvette deposit, and a 1400ha lot in Ontario's evolving “Electric Avenue”, which houses Frontier Metals' massive PAK lithium discovery.

Galan Lithium has upped the ante, with its phase-two DFS into its Hombre Muerto West project in Argentina projecting an annual average EBITDA of US$374 million (AU$588 million) for an astounding 40 years. Hot off the heels of its phase-one DFS, the company is looking to boost production at its flagship project, which is estimated to deliver a whopping US$2 billion (AU$3.1 billion) NPV.

Galan Lithium has firmed-up the geological pegmatite model at its Greenbushes South project in Western Australia, with Fry's Block assays suggesting a similarity to the globally-renowned Greenbushes deposit. It says Greenbushes, one of the world's biggest and highest-grade hard-rock lithium operations, is about 5km north and on the same regional geological structure. More drilling is planned to test new pegmatite targets.

Galan Lithium has set a new record at its Hombre Muerto West project in Argentina's world-renowned “Lithium Triangle”, pumping 981 milligrams per litre of lithium brine at 15 litres per second during testing. At the company's Catalina tenement, the first diamond hole hit 300m of highly-fractured rock flowing at 6 litres per second following airlift, with fluid density of about 1216 grams per cubic centimetre.

Phase-one construction of Galan Lithium's first 205,000-square-metre solar evaporation pond has kicked-off at the company's Hombre Muerto West project in Argentina's renowned “Lithium Triangle”. Management expects the pond to be complete and filled with brine by next year's first quarter and then to be producing a 6 per cent lithium chloride concentrate by the first half of 2025.

Galan Lithium's Hombre Muerto West lithium brine project in Argentina is now full steam ahead after securing all permitting required to clear the way for construction. Phase-one production of lithium chloride, at what is Argentina's highest-grade, lowest-impurity lithium brine deposit, will deliver 5400 tonnes per annum of lithium carbonate equivalent in a 40-year period starting in the first half of 2025.

Galan Lithium says its new Catalina tenement in Argentina's “Lithium Triangle” could add between 500,000 and 1.5 million tonnes of lithium carbonate equivalent at between 953 and 988 milligrams per litre lithium to its Hombre Muerto West resource. Management says a well-drilled 500m to the south of Catalina hit lithium grades in the target range and believes it may extend into its exclusively-owned ground.

Galan Lithium has revealed details of a deal which it says has given it exclusive ownership of the vast Catalina tenements at its Hombre Muerto West lithium project within South America's “Lithium Triangle”. Management says it has secured ownership of the Argentinian ground that has been at the centre of a long-standing dispute by issuing 9.76 million shares to the private owner.

Galan Lithium says it has produced a premium-quality lithium chloride concentrate from its Hombre Muerto West project pilot plant in Argentina, with samples ready to distribute to potential offtake partners. The company's concentrate product contains 6 per cent lithium – comparable to 13 per cent lithium oxide or 31.9 per cent lithium carbon equivalent.

Galan Lithium's DFS shows its Hombre Muerto West lithium brine play in Argentina churning out an average annual EBITDA of AU$124 million a year for 40 years … and that's just “phase one”. The company says initial annual production targeting a high-quality lithium chloride product will deliver a US$460 million (AU$692 million) net present value and pave the way to fund further significant expansions.

Galan Lithium has kicked off pre-construction activities at its Hombre Muerto West lithium brine project in Argentina after being granted its development permits by the local Mines Department Minister. The permit allows the company to start the commissioning of its new camp, begin removal of top-soil and enter preliminary testing activities for securing the ground quality.

Galan Lithium is adding the final touches to an optimised two-phase definitive feasibility study at its one of its two lithium brines projects in Argentina. The company is also considering its third and fourth phases that will ramp up production to as much as 60 kilotonnes per annum of lithium chloride concentrate equivalent in the South American region known as the “Lithium Triangle”.