Ann: Galan Secures $15m ATM Funding Facility, page-43

After sleeping on this announcement and hearing the latest JL podcast, I think this announcement is quite prudent after the situation they find themselves in.

Yes they ran down the funds lower than they should have but they were operating under the assumption of a neutral market outlook. Although in reality it was a quite negative outlook so they had to resort to more desperate measures. Which would have always been part of the risk assessment strategy, just under the high risk environment category. Although the main aim was also to produce lithium chloride to get to cash flow ASAP.

Unfortunately this has resulted in giving more of the company away and seeking further capital if need be. But priority number 1 is still in action. This latest safety net will ensure the priorities won't change.

Disappointing that Glencore and others didn't have the foresight to assist in our time of need but that is the predatory nature of VCs. Plus that is the environment we find ourselves in and people are a lot more frugal with their capital. We will make them pay when it comes time to sell the LiCl back to them. At least we have $15M to tap at any stage without investors constantly fearing the dreaded CR and running our SP even lower.

Ultimately progress and reaching cashflow will increase the value of this company. And if the environment conditions are right, it will increase it a significant amount. AIMO.