The above comments are correct in so far as Galan survives as a...

The above comments are correct in so far as Galan survives as a going entity. Galan is vulnerable at this period.

Keep spending and face cash shortages ?
Keep spending and become more vulnerable, more desperate, and having less leverage in any deal?
Shut up shop and deal with environmental concerns, broken contracts ?

The resource is awesome but at this point can only help secure finance via its reputation. Materially it physically helps only when in production. So the resource can give an advantage over other projects in securing finance, weighed against country risk, but it won’t save the company from going pear shaped until it truly starts producing.


Yes HMW is as likely as any emerging producer to become a producer, but not necessarily with Galan at the helm.

Whilst we have no debt, further crs are going to be highly dilutive/punitive, mothballing the infrastructure appears to be problematic, and the lithium scene is not conducive to a funder stumping up $100m to finish stage 1. Galan has its arse against the wall and merely surviving with its virtue intact will be a great outcome.

I wish JP and co all the best in securing this finance, but we are right in the sh!t here, with a mc of $80m.