Ann: Galan Increases Resource by 18% to 8.6Mt LCE @ 859mg/l Li, page-11

Well said @Gwaihir.

The way I look at it is if GLN was funded (on favourable terms), located in AUS, had solid offtakes, and about to start production, considering it has more LCE than Liontown (which I also own a good 6 figures worth to spread bet as it were), it would be well over $2bn MC now.

But to state the blatantly obvious, Galan are situated in Argentina, are without confirmed funding, and in relatively unchartered waters in terms of product and business plan.

Funding and offtakes are key for us over the next 12 months. Once those are sorted out, we should get a long overdue re-rate.

Even considering the risk factors, when you think about the resource size and how close we are to being the lowest on the production cost curve, I think GLN should be double the market cap it is today.

The current SP and MC all boils down to how much the market trusts the board to get this over the line (it clearly doesn't have much faith). Once those "trust issues" are out the way, we should be looking at some lovely blue sky (long overdue).

Fingers crossed JP and GLN don't fall at the final hurdle (but if that worse case scenario happens, I'm sure there will be suitors above our current MC anyway.).