Ann: Galan Completes Strongly Supported A$31.5 million Placement, page-47

Thanks for your measured post, Horizon. I also understand the frustration. It’s been a tough few years for many people.

GLN are not the first junior to rethink their plans to production. I have no doubt they are being well advised by those who understand the lithium game. Many small players are struggling to get finance in the current economic environment. We continue to tick a few boxes. This is good news from my perspective. Those with expectation of a giant SP movement as a result of the DPS are bound to be disappointed. A view of the overall market these past 12 months is telling. Unfortunately things are likely to get worse ‘worldwide’ before they get better. I understand why many are choosing to park their gains safely.

We are happy to remain patient and play the long game with GLN. We are also in a different life stage to many in here. We also learned a lot of disappointing lessons about panic selling in our early 40’s.

Rather than picking apart the recent ANN - I ask that we look at it constructively. Consider the fundamentals, the world market overall, are you willing (financially able) to wade through a difficult market with patience. What do you consider to be the big picture for GLN in 5-6 years. Any junior stock has its risks - there’s no reward without risk. All just my opinion.