Ann: Phase 1 HMW DFS Delivers Compelling Economic Results, page-282

Hi paulgf,

I disagree with you on a few things.

The accusation that Candelas and GB-South were neglected is unjustified.First of all, the current thin capital cover shows that it was/is right to concentrate on the core project HMW. Secondly, many people, myself included, sometimes forget when looking back at a period of the last two years that half of them were still under the influence of Covid. This standstill, through no fault of the company, and the delayed start-up of projects, can in no way be blamed on Galan specifically for the company, it was a macroeconomic problem. Drilling in Greenbushes only started at the beginning of the year and is ongoing.

Phase 3 & 4 must not be understood as meaning that in the meantime, nothing is happening. The current situation is that parallel drilling is taking place. 3 wells on HMW and 3 wells on Candelas.So the lack of development you accuse is not true, it is happening and creating more assets.
I think this measured approach, to project development is strategically correct.

Sometimes I get the feeling that some people don't care what JP says and advances.If he walked on water, they would shrug their shoulders and ask, "Can't he swim?"

For me, an interesting point in the interview was to ask whether it makes sense at all, from a CAPEX point of view, to seek the transition from the chloride plant to the carbonate plant, when the price difference between LI-CL and Li-Carbonate is relatively small.

A TO is always within the realm of possibility. Even PLS could be taken off the table. It's all a question of price. That's why the "Market Comparables" chart is helpful, after all. Suppose an offer for a TO is made tomorrow. What price would be justified?I think it is valuable for everyone here to think about this question. I get a kick out of this multiple idea alone.

@ mondyinvest My comment on the investment entry was not meant to be smug; after all, JP's statements are initially "only" declarations of intent.

I have confidence in the abilities of the management and believe in
LIQUID SPODUMENE!

DYOR and have a nice day
Smith71