Ann: At The Market Raise, page-94

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GARETH78

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18/07/24

15:30

Post #: 74814490
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Originally posted by Bikesbeersfooty: ↑

Todays Market cap is AU$78m.
Site works at HMW currently as shown above (top photo) on the best Li resource in Argentina as measured by grade and impurities.

Phase 1 capex was stated as AU$150m, and July 12 Ann noted we are 40% complete, so AU$60 so far invested in actual phase1 works.

By any reasonable measure the current mc is undervalued, by how much I don’t know, but a lot. If Lithium still has value, and at what, $US12,000/ton LCE it evidently still does, so a great holding like HMW has a value but it’s reflected to $0 in our mc.
And that’s before going into the process of drilling, assessing, consultants, to define the resource, government approvals, etc and the associated costs therein.

Our mc is a result of lowish LCE prices, and the vulnerability to further raises.
Whilst Galan carries no debt it isn’t likely to trade insolvent with a decent FO at the helm. So that risk is minimal.

A worldwide recession would dent EV take up considerably though through 2025-26 and thus LCE price recovery. Will there be one ? No one knows.

The short summary is that looking at the works to date, a beautiful picture imo, the market value of Galan is shown right there in those works alone. It could go lower, but that isn’t a reference to reality, more to human nature and fear.

Once the irrational pricing reasons are eliminated the only way is up, if you believe Lithium has a place of any value in the next 50 years in our world.

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Since July 1st 2020 rough numbers for outgoings:

Admin: $9.5m
Tenements /Investment: $8.3m
Prop / Plant / Exp & Eval : $92.5m

GLN Price at posting: 15.3¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 15.5¢		Change 0.000(0.00%)		Mkt cap ! $75.78M

Open	High	Low	Value	Volume
15.5¢	16.0¢	15.0¢	$395.5K	2.567M

Buyers (Bids)

No.	Vol.	Price($)
29	857878	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	244965	4

View Market Depth

No.	Vol.	Price($)
29	857878	0.150
15	494384	0.145
19	660661	0.140
8	533292	0.135
5	87000	0.130

Price($)	Vol.	No.
0.155	244965	4
0.160	290416	7
0.165	187000	7
0.170	150000	2
0.175	66000	2

Last trade - 16.10pm 18/07/2024 (20 minute delay)

GLN (ASX) Chart

Ann: At The Market Raise, page-94

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Ann: At The Market Raise, page-94

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