Haha, GLN is far from a lifestyle business, the amount of work ongoing in Argentina is enormous. I believe GLN will be a billion+ company within 6months and many several billion once in production in 2025, from basically nothing 2 years ago! Mark my words....
Galan could have signed a bunch of non-binding "sugar hit" offtake agreements by now, they have chosen not to as a deliberate strategy that I believe will ultimately pay off; I expect they wanted their pump tests (critical data to derisk project), DFS results and updated resource out and speaking for itself before engaging on offtakes & finance, as then it would be from a position of extreme power vs weakness and signing toothless non-binding MOUs that really are worth nothing and just an agreement to talk in the future when the DFS's are done (or in LKE's case, when/if they prove their farcical unlikely dream of 50ktpa from a 211mg/L grade! As an aside, I suggest people calculate the Kachi inlet flowrate needed to get to 50ktpa LCE, just from a Li material balance perspective! That's an ungodly MASSIVE flowrate in and hence huge number of wells and then they have to reinject most of it back down hole (not that easy to do, trust me)...thats even assuming the unproven DLE processing even works to produce battery grade Li)...
Yes, JP may not be out announcing all the work and every little step/deliverable, buts that because he is so damn busy, ignoring the day to day noise and market, and focussed entirely on progressing to production, he's not looking for $1.75 or even $3.50 just to get some more performance shares and exit; he wants Galan to be the next big producer in Argentina and to realise the potential of what he has found and built = one of the biggest and highest quality (and lowest cost) Brine resources on the planet!! Hoy smokes, we could easily have 3+ MT of 900+ mg/l Li at HMW very soon (my guess of the upcoming resource update, could be higher given POSCO resource growth precedent in the same Salar?), that is crazy!
Just be patient for a little longer folks and I think we will all soon realise just how much work and positive progress has been happening...we will get our day in the sun (as will our Brine haha), once DFS out the market, brokers, retail, offtakers etc. will no longer be ale to ignore the true value of Galan..
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