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6.90%

13.5¢ galan lithium limited

Ann: Trading Halt, page-18

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chb

1,643 Posts.

225

18/05/23

09:47

Post #: 67836463
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Originally posted by mondyinvest ↑

I disagree. Galan didn't pump the share price, the market did. Galan released a photo of several brokers visiting HMW the same day as the AKE news broke, whilst the market euphorically bid all the Argentinian projects up 20%. Some people hyped it a bit more i.e. "bankers visiting, we're getting bought too" etc, but anyone following the company should know what this meant: cap raise. They're down to around A$37M cash and, presuming they get the expanded pilot plant permit, are facing a capex bill of between US$40-50M (never mind what they need for working capital). That is why the share price has probably gone sideways - who is going to bid this up, knowing it needed more money?

So all in all, I think it's actually a good move here. Raising into recent 20% strength is the way to do a cap raise. And for those who wanted them to release the DFS and then raise thereafter... that's working on a big assumption that the DFS will surprise to the upside. What if it doesn't? Raising into a wall of selling would be terrible.

I think they've played it the best way they can, all things considered.

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IMO raising now prior to the initial DFS means they expect the DFS to disappoint.

GLN Price at posting: $1.20 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 13.5¢		Change -0.010(6.90%)		Mkt cap ! $68.40M

Open	High	Low	Value	Volume
15.0¢	15.3¢	13.5¢	$629.7K	4.381M

Buyers (Bids)

No.	Vol.	Price($)
22	704525	13.0¢

Sellers (Offers)

Price($)	Vol.	No.
14.0¢	452853	6

View Market Depth

No.	Vol.	Price($)
22	704525	0.130
18	721164	0.125
15	1457132	0.120
17	1839380	0.115
13	975189	0.110

Price($)	Vol.	No.
0.140	452853	6
0.145	310000	5
0.150	639259	6
0.155	335000	6
0.160	510000	5

Last trade - 16.10pm 27/08/2024 (20 minute delay)

GLN (ASX) Chart

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