Apologies if I don't mention lithium price risk in every post, I'll do better. But when Galan released their DFS in July last year the fact they'd been so bullish on LCE long term was something I (and others) picked out fairly quickly. Whilst I think that the lithium price is indeed the driving force behind the sector's woes, in Galan's specific case the share price underperformance seems in large part due to the 'strategy' they ran ahead with: commencing construction before they'd even finalised funding. The recent selloff has been in direct relation to what looked like an emergency raise (1-1 free options, $6M left in bank, etc) and the ongoing uncertainty on the funding path forward.
In other words... finance and execution risk. Blame it on the commodity if you like but I think you're being very kind on management here.
GLN Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
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