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29.0¢ galan lithium limited

Ann: $19.5m Raising to Fund Ongoing Development of HMW Phase 1, page-74

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mondyinvest

4,844 Posts.

4935

05/02/24

22:49

Post #: 72251547
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Originally posted by LT_Investor: ↑

I am truly lucky that i didnt buy at 52 support.
the word offtakes and funding nowadays have so many conditions that are not transparent to us.

I find most concerning from this statement when thrn mention alternative funding solutions. If glencore drag on for another 3 to 6 months, they can technically buy GLN at much cheaper price. Many instos got trap at 46c. Will be interesting to see when new shares available for trading tomorrow.
"
The equity raising enhances Galan’s balance sheet by providing additional working capital and financial flexibility during Hombre Muerto West (HMW) Phase 1 construction and provides sufficient working capital headroom whilst Galan finalizes negotiations of alternative funding solutions including debt and prepayment facilities that will enable completion of HMW Phase 1."

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I highly doubt Glencore want to buy Galan. They want to access/trade the product, not own the mine and the build risk:

GLN Price at posting: 33.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 29.0¢		Change 0.000(0.00%)		Mkt cap ! $119.7M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	3330	30.0¢

Sellers (Offers)

Price($)	Vol.	No.
23.0¢	325000	2

View Market Depth

No.	Vol.	Price($)
1	3330	0.300
1	25500	0.295
4	145550	0.285
6	267688	0.280
8	579365	0.275

Price($)	Vol.	No.
0.230	325000	2
0.240	54050	3
0.245	86210	1
0.250	115000	3
0.260	19570	2

Last trade - 16.15pm 16/05/2024 (20 minute delay)

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