Ann: Galan Secures Glencore Agreement For Offtake & Financing, page-221

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PJMac

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18/11/23

22:39

Post #: 70980718
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Originally posted by rockme: ↑

Galan is also delighted to have secured an offer from Glencore to provide or facilitate a bindingproposal for the Facility to support funding of Phase 1, which is subject to certain conditionsprecedent being met including, amongst others, satisfactory due diligence to Glencore’s absolutediscretion and draw down under the Facility will only become effective when the MOA and alltransaction definitive documentation has been signed subject to Glencore’s satisfaction in itsabsolute discretion.

Reading the above paragraph there is nothing binding about this deal, I am surprised they even made this ann. Glencore signs these deals with plenty ASX hopefuls , nearly all end up in the doldrums, once the traders are done this will be back to 20c , hope people didn't buy in haste and repent at leisure

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"Glencore signs these deals with plenty ASX hopefuls"

lol Gencore is not just signing an offer to provide security or arrange security . it is doing so because it signed a binding offtake for 100% of Phase 1 production. Thats right 100%! That is incredible. They are not in the business of wasting their time signing binding offtakes for a product they can never have.

This will be financed as Glencore want this product.

Some of these posts are getting ridiculous.

Last edited by PJMac: 18/11/23

GLN Price at posting: 70.5¢ Sentiment: Buy Disclosure: Held
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2 Great analysis

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