121 Mining Investment: Hong Kong, 23 - 24 Oct
https://www.weare121.com/121mininginvestment-hk/galan-lithium/
Galan Lithium
Website: www.galanlithium.com.au
Primary ticker:ASX:GLN
Stage of development: Exploration
Commodity: Lithium
Project to promote: Hombre Muerto Project
Galan Lithium Limited is an ASX listed (ASX: GLN) lithium exploration company with the rights to earn 100% interest in projects located within the South American Lithium Triangle in Argentina. The projects lie on the Hombre Muerto salar, one of the most important and prolific salt flats in Argentina and indeed the world. Hombre Muerto is home to FMC’s El Fenix lithium brine operation and Galaxy Resources’ Sal de Vida project and boasts the highest lithium brine grades and lowest impurities within Argentina.
What is your rationale for attending 121 Mining Investment?
We are looking to transition our shareholder base from wholly retail and therefore are looking to introduce sophisticated investors to our share register.
We are also looking to meet potential companies interested in future funding and/or off-take agreements as we advcnce our project.
Capital raise will be required in early 2019 following likely success in our:
1. Drilling programme – drilling permits have been applied for and expected shortly. Drilling is targeted for Q4 2018,
2. Our aim is to estimate a maiden JORC resource in late Q2 2019.
3. – If the drilling in point one (1) demonstrates economic lithium grades then we plan to work in parallel with a pilot lithium carbonate plant.
What recent news would you like to highlight to investors attending?
ASX Announcement : 18 October 2018
Positive Geophysical Results Define Potential New Projects
https://wcsecure.weblink.com.au/pdf/GLN/02035761.pdf
What are your key goals for the next 3, 6 and 12 months?
3 Months:
– Drilling Permits awarded
– Awarding drilling contract
– Commencing of drilling
– First lithium grade and technical results from drilling campaign.
6 Months:
– Expand to resource definition drilling campaign
– Study of potential processing solution to process lithium carbonate at a pilot level.
12 Months:
– Maiden JORC resource estimation.
– Commencing commissioning of lithium carbonate pilot plant
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Country risk in Argentina
Market risk in the lithium market. However, we believe that this is less likely, we understand that market fluctuations and sentiments defy logic sometimes.
In a sentence, what do you think makes your company such a compelling investment?
We are located within the world class location on the Salar del Hombre Muerto adjacent to an operating asset (FMC Corp.) and POSCO and Galaxy Resources Ltd.’s advanced projects.
The geology and chemistry of our brines should potentially be similar to the high grade and low impurity levels of the above projects.
Our Flag Ship Project (Candelas) has a very large resource potential which is on track to be drilled in the near future.
The Company has a Managing Director fluent in Spanish with operational experience in Latin America and with a well credentialed, experienced in country team.
(20min delay)