Ann: Quarterly Activities and Cash Flow Report, page-30

Agree with you here @mondyinvest.

I sold some on this news but i will look to reenter later towards the completion of the second DFS for 60ktpa. Not because I don't like the project or where it is headed though.

I believe the market won't react as well to the 4ktpa DFS. Even if it is good. Economy of scale will be where the project Galan has really excels.

However, the decision to delay the full scale in my view is very strategic and warranted.

Positive reasons why I think it is a good move.

-Lithium price and sentiment has time to recover.

- The permit for the full scale project will not be attained by the time the DFS comes out, it will still be months away so what's the rush?

- In March we just hired one of the most qualified people in developing lithium brine projects. Why not let him get to work on it.

He's only been in the job a little over one month.




- Getting the small scale operation DFS out there first, offers an opportunity to get cracking straight away once permitted (Q3 2023)

While in most cases jr's making this move shows lack of robust economics. I don't believe this is the case for Galan and far from it.