Qtrly - 8.7 Estimated quarters of funding available (item 8.6...

Qtrly -
8.7 Estimated quarters of funding available (item 8.6 divided byitem 8.3) 0.4
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.

8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:

8.8.1 Does the entity expect that it will continue to have the current level of net operatingcash flows for the time being and, if not, why not?Answer: Yes

8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise furthercash to fund its operations and, if so, what are those steps and how likely does itbelieve that they will be successful?Answer: Yes, an ATM funding facility was announced on 12 April 2024 for up to A$15million of standby equity capital until 31 January 2029. On 22 April 2024 approvalwas received at the company’s General Meeting for the issue of up to 4,782,606shares in relation to director participation in a share placement, expected to raise upto A$2.2 million. In addition, the company is currently in negotiations in relation to asecured Financing Prepayment Facility to support development activities at itsHombre Muerto West project in Argentina. The company is confident that it willsecure funding through a combination of debt and equity to support its activitiesduring 2024.

8.8.3 Does the entity expect to be able to continue its operations and to meet its businessobjectives and, if so, on what basis?Answer: Yes, the combination of equity funding, secured and unsecured debt, prepaymentfunding is expected to provide cashflow to meet its business objectives in 2024.


All that Matters : 0.4 Qtrs of funding available from end March. Which means Galan will be eating into the AtM within a fortnight, all things being equal.
Galan is also confident additional funding for 2024 will be found.
They either will or they won’t.