Ann: Galan Signs Pivotal Commercial Agreement with Catamarca Govt, page-140

Downsides:
* 4% increase in royalties
* Potential advance prepayments
* Permitting not formally granted, just progressed

Upsides:
* Provincial government onside for the long term, rather than tying us up in water rights fights
* Glencore now have more Stage 1 & potential Stage 2 potential OS buyers to work with/over who could well pay more than the 4% (and shipping) surcharge for our high grade chloride
* Galan now have significantly more firepower incoming with other funding parties if Glencore walk away from their due diligence
* No restriction on where downstream processing is sited, as announcement specifically stated "a commitment by Galan, after 4 years, to pursue further downstream processing routes (e.g. lithium carbonate, lithium hydroxide or other alternatives), outside the Hombre Muerto salar..."
* Phase 2 permitting progressed with potential for construction to continue seamlessly after Stage 1 completion, perhaps accelerating the 21ktpa production

Yesterday's announcement was very focussed on publicly giving the Catamarca government kudos and reiterating Galan's commitment to the local community.
As any AGY holder will know, time-friendly support from the local authorities around permitting is ultra important.

Can't quite understand the negative sentiment and SP action given on balance positives outweigh the negatives