General Discussion Banter GLN, page-10401

Galan has long detached from fundamentals and is being traded on levels and spot price speculation. This creates an enormous buying opportunity. We are already looking at a conservative 5x uplift, but if the markets continue to deteriorate, potentially 10x uplift.

Right now we are as oversold on a three year time horizon as we have ever been, inc March 2020. EV of ~$255M assuming $40M cash in bank. $171M USD. However, I think spot prices have further to come off and completely scare off the punters. It's possible if we break major support levels, which appears to be happening, albeit on very low volumes/buying support, next major support level is at 50c. If we reach 50c, that's an EV of ~$110M assuming $40M cash in bank. ~$74M USD.

Previous brine acquisitions:
- $280M USD - Posco/Galaxy - 2018
- $690M USD - Zijn/Neo - Oct 2021
- $962M USD - Ganfeng/Lithea - July 2022
- $227M USD - Lithium Americas / Arena - Dec 2022

Keep in mind grade/impurities/size/stage and share of ownership. Keep in mind also, the market is attributing no value to Greenbushes or Candelas. We are only comparing what a buyer would pay for Hombre Muerto West.

Below is excellent analysis from @HOOPZ. Hoopz would be great to see other acquisitions incorporated into your analysis below on an LCE basis, if you aren't on holidays!