Galan Lithium has filled its coffers to the tune of $31.5 million from an institutional placement priced at $1.05 per share to help drive development at its Hombre Muerto West lithium brine project in Argentina. It says the funds will be used to purchase long lead items for its proposed lithium carbonate pilot plant and the stage-two definitive feasibility study at the project.
Battery minerals explorer Galan Lithium has raised $31.5 million through an institutional placement to advance its projects in the south-west and Argentina.
Galan Lithium has labelled its beefed-up resource “world class”, with 6.6 million tonnes of lithium carbonate equivalent at 880 milligrams per litre lithium at its Hombre Muerto West project in Argentina. Management says it is the third significant resource upgrade in three years and 72 per cent of the new figure sits in the higher “measured” category, representing 4.7 million tonnes grading 873 mg/l lithium.
Our board moves wrap includes Andrew Metcalfe, George Lazarou, María Claudia Pohl Ibáñez, Christopher Chalwell, Michael Winlo, Brett Crowley, Erlyn Dawson, and Aaron Brinkworth.
Galan Lithium has kicked off a 2500m drilling program targeting lithium-bearing pegmatites. The campaign at its Greenbushes South lithium project is just 3km from the world-class Greenbushes lithium mine in WA. In August last year the company's soil sampling and geophysical survey at the site uncovered a number of anomalies demanding further investigation.
Galan Lithium has delivered an average grade of 829 milligrams per litre lithium brine in results to a depth of 455m at its Santa Barbara exploration well in Argentina. The results which come from part of the company's Hombre Muerto West project are at the highest end of lithium brine results achieved so far. Galan says it has the highest grade and lowest impurity lithium brine assets in Argentina and has commenced a fourth production well at its wholly owned project.
Battery metals company Lithium Australia has boosted revenue by more than 40 per cent in the second half of calendar year 2022 compared to the corresponding period in 2021. The WA-based ASX-listed company, whose interests encompass several aspects of the so-called “green energy revolution”, also slashed its losses in that same period according to the company's latest half-year accounts.
ASX-listed Galan Lithium is set to spin the drill rods at its wholly-owned Greenbushes South project after approval for the company's submitted Program of Works. The Greenbushes South Project tenement is located within spitting distance of the famed Greenbushes lithium mine and the initial campaign will see approximately 2,500 metres of drilling test the first of several key targets.
Galan Lithium has secured 100 per cent ownership of the Candelas lithium brine project in Argentina, only 40kms from its developing Hombre Muerto West project. The company has completed the payment for the final instalment of a options agreement. A preliminary economic assessment completed in late 2021 tabled a stunning set of numbers that shows its Candelas project will make $270m a year for 25 years for a net present value of $1.76b.
After completing a successful round of lithium brine pumping tests at its Hombre West project in Argentina, Galan Lithium has confirmed the high production capabilities at its Pila and Rana del Sal concessions. The program delivered a suite of robust extraction and production chemistry data that bodes well for the company's soon-to-be-completed definitive feasibility study which aims to evaluate production at the site.
An approval for a program of works is now the only thing preventing Galan Lithium from launching a maiden five-hole diamond drilling program at its newly defined Fry's Block area, part of its larger Greenbushes South lithium project in WA. The campaign is expected to kick off in January and follows the discovery of three compelling pegmatite targets through fieldwork, geochemical analysis and a geophysical data review.
Galan Lithium will gain full control of the Greenbushes South lithium project on the edge of the world class Greenbushes Lithium Mine after shaking hands on a $3 million purchase of joint venture p
Further flow rate pump test results from Galan Lithium's Hombre Muerto West lithium brine project in Argentina are believed to support the company's ambitions to ramp-up pilot plant production to 4ktpa lithium carbon equivalent. With work progressing at a breakneck pace on multiple fronts, Galan is set to ring in the new year by delivering on its definitive feasibility study by the end of the first quarter.
The recently released Federal Budget has highlighted the importance of the mining and resources industry to the Australian economy with a particular focus on the critical minerals sector. One of the most important commodities to the current market is lithium due to the importance of the metal to the electric vehicle and battery sector.
Galan Lithium has submitted an application to scale up the piloting stage of the company's flagship Hombre Muerto West lithium brine project in Argentina that sits within South America's Lithium Triangle. The proposed semi-commercial test run is anticipated to produce up to 4000 tonnes of lithium carbonate equivalent per annum in the form of a high-quality 6 per cent lithium concentrate.
Shares in Galan Lithium surged 30 per cent higher during intraday trading following a game-changing increase of more than 150 per cent to the mineral resource of its flagship Hombre Muerto West project in Argentina. The revised estimate now tips the scales at 5.8 million tonnes of contained lithium carbonate equivalent grading 866 milligrams per litre - a staggering 2.5 times increase from the previous figure.
Galan Lithium has taken a vital step in establishing itself as South America's next battery metals producer after lodging an application to establish a permanent 200-person camp at its flagship Hombre Muerto West brine project in Argentina. The company plans to launch commercial production in 2025 and will initially use the facility to accommodate the operation's construction workforce.
Pumping tests at Galan Lithium's wholly owned Hombre Muerto West lithium brine project has churned out a high flow rate of around 20 litres of concentrate per second and delivered robust lithium grades of up to 927 milligrams per litre. Work at a well in the operation will now launch hydraulic testing at a second pumping well to follow up on results from another bore.
Geological mapping at Galan Lithium's Greenbushes South project in WA's South West has led to the discovery of a significant new pegmatite outcrop that runs over 500m in strike length and alluringly remains open. The campaign follows previous exploration at the site that unveiled the operation's first pegmatite lens in a highly prospective area coined “GS11”.
Galan Lithium has appointed former SQM Hydrogeology Superintendent Alvaro Henríquez as its new Exploration Manager. Henríquez will be responsible for ramping up the company's exploration and development efforts at its battery metal projects in Australia and Argentina. He has more than two decades' experience in the mining sector and will join Galan from one of the world's largest lithium producers.
Galan Lithium believes it holds an “outstanding” set of well results after an initial pumping test at its wholly owned Hombre Muerto West lithium brine project in Argentina's Catamarca Province. The company says the bumper grade of greater than 910 mg/L will roll into a definitive feasibility study for the operation, earmarked for later this year for territory with a proven track record from its big-hitting neighbours.
In what is likely to quicken pulses around the ASX floors, Galan Lithium has drawn first blood at its Greenbushes South project in WA, with recent airborne radiometric, magnetic and digital elevation modelling survey data unveiling the first pegmatite lens at the operation. The discovery has the added allure in that it is a mere 15km from the Greenbushes mine, the world's largest hard-rock lithium deposit.
Galan Lithium will soon hit the go button on a long-term pumping test program at its wholly-owned Hombre Muerto West lithium brine project in the Catamarca Province of Argentina. The company says the results of the analyses will flow into a definitive feasibility study for the operation and is expected to be wrapped up by September this year.
Galan Lithium says extensional drilling at its wholly-owned Hombre Muerto West lithium project in Catamarca Province, Argentina, has further underlined its status as a major lithium brine resource. The company said the probe has extended the project's resource to the east and enriched its hydrogeological model which could lead to production upside.
Galan Lithium is pulling out all stops to get a DFS tabled for its massive lithium brine play in Argentina by the end of the year and the company expects to update its resource by quarter three this year after discovering potentially new mineral resource zones courtesy of a Transient Electromagnetic geophysical survey. The project already boasts a US$2.2b net present value and a seriously impressive set of pre-DFS numbers.
Galan Lithium could be closing in on the key battery metal at its Greenbushes South project in WA after recent exploration work at the venture highlighted anomalous pathfinder mineralisation in soil samples and rock chips. According to the company, the samples show the trace elements could support pegmatites similar to those found in the nearby Greenbushes mine, the world's largest hard rock lithium deposit.
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Galan Lithium has taken a vital step at its Hombre Muerto West lithium brine project in Argentina after appointing engineering consultancy Hatch to run a feasibility study over the project. According to the company, the study is anticipated to be delivered towards the end of the new year and will firm up numbers from a previous scoping study.
ASX-listed Galan Lithium is steaming ahead with a suite of exploration works to feed into an upcoming DFS at its flagship Hombre Muerto West lithium brine project in Argentina where a 40 year mine life has been envisaged. Construction of evaporation ponds for a pilot plant aiming to generate high-grade lithium concentrate have now commenced, whilst a drilling campaign seeking to grow the existing resource base has intensified.
An updated lithium price assessment of Galan Lithium's flagship Hombre Muerto West lithium brine project in Argentina has delivered a pre-tax net present value of nearly US$2.2b, a whopping 120 per cent increase on the US$1b projected in a previous evaluation. Galan is now predicting an increase in annual EBITDA of over US$100m a year for the 40 year life of mine to an impressive US$287m a year.
Galan Lithium has tabled a stunning set of numbers in an economic assessment study that shows its Candelas lithium brine project in Argentina will make A$265m a year for 25 years for a net present value of A$1.7b at today's USD exchange rates. The economic evaluation of Candelas adds to Galan's nearby Hombre Muerto West lithium brine project where a 40 year mine life has already been envisaged.
Galan Lithium is probing deeper into its Greenbushes South project in WA's South West with a successful geophysical pilot study indicating possible pegmatites at depth. A soil sampling program is underway and conservation management plans have been submitted for a widened exploration program. The Greenbushes South lithium project is a joint venture between Galan Lithium who holds 80 per cent and Lithium Australia who has 20 per cent.
Galan Lithium is moving ever closer to commercialisation and becoming Argentina's next lithium producer. The company reported it has now received critical government permits that allow it to commence building Stage 1 of its pilot plant and new camp accommodation at its flagship Hombre Muerto West lithium brine project in South America's prolific ‘Lithium Triangle'.
Galan Lithium has added further lithium brine potential to its Hombre Muerto West project in South America's prolific ‘Lithium Triangle' with a newly drilled bore hole revealing previously unrecognised brine bearing aquifers. The company says the discovery could provide a boost to future resource estimates for the project that already boasts 2.3 million tonnes of lithium carbonate equivalent.
Galan Lithium has partnered with leading sustainable supply chain traceability provider, London-headquartered international group Circulor Ltd as the ASX-listed lithium development hopeful seeks to become a preferred source of lithium carbonate supply to global markets. It says the collaborative partnership with Circulor will look to establish full lithium traceability and carbon dioxide and environmental, social and governance tracking for its lithium brine assets in Argentina's “lithium triangle”.
ASX-listed Galan Lithium is ready to get the rods turning at its Hombre Muerto West project in South America's prolific “Lithium Triangle” following confirmation of the next round of drilling permits from the local government body in Catamarca, Argentina. The planned drilling is designed to assess new resources and maiden reserves at Hombre Muerto West.
Galan Lithium is set to grow its bank balance by whopping A$50m after receiving firm commitments from institutional and sophisticated investors for a placement that will see the company fast-track exploration and development works across its Hombre Muerto West and Candales lithium brine projects in Argentina's Salar del Hombre Muerto.
ASX-listed Galan Lithium has hit the go-button on a scoping study into the potential development of its Candelas lithium brine project in the Catamarca, Argentina, sector of South America's “lithium triangle”. Candelas lies south-east of and in the same fertile salt flat terrane as the Perth-based company's flagship Hombre Muerto West brine project, which was the subject of an impressive scoping study last year.
ASX-listed Galan Lithium is consolidating its position in South America's prolific “Lithium Triangle”, executing a binding option agreement with a private Argentinian landholder to earn a 100 percent interest in the Casa Del Inca III lithium brine tenement. The land package strategically abuts Galan's Hombre Muerto West project. A further 900 hectares is also available under the agreement.
