Ann: Galan Moves to 100% Ownership of Greenbushes South Project, page-27

Better to be quiet and thought of as a fool, than to open your mouth and confirm it.

"For a minimum price with massive upside definitely worth a punt could be a second company maker". Genuine question, what do you think having 100% ownership gives the company, that 80% and operatorship doesn't? You've said it won't be taking up much of their time, on what basis? If so, why bother expanding to 100% if you have no intent to put focus into it?

We have paid $3m for 20% of a tenement that at this point has had some rock chip sampling done. No drilling, no studies, no potential resource. I loved the GB announcement as I think it could be fantastic long term, but we are GLN the explorer/developer, not BHP with billions in FCF. We shouldn't be taking $3m punts on unproven tenements when we have proven resource that is 1-2 years out from production. I'd rather they spent $3m doing drilling and proving up GB or expanding with more production wells at HMW.

The only way this makes sense is as some others have said, to spin this out. So let's think that through further, instead of having something that could be a "second company maker", we now have shares in another explorer who will have to fight tooth and nail for capital, likely diluting your spun out shareholding to oblivion before the company gets made.

My preference would be that they use cashflow from HMW Lithium Chloride to expand to carbonate and in parallel expand to Candelas and continue drilling/exploring GB.