GLN galan lithium limited

Ann: Quarterly Activities and Cash Flow Report, page-12

  1. 896 Posts.
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    Hard to gauge overruns without completing the project. Most are incurred towards the end of a build, especially for something like this where the earthworks, lining etc are fairly straightforward tasks for contractors. Not exactly a whole lot of project management or complexity involved. The plant was always going to be the test.

    No doubt there would be added costs thrown in because of the stop start approach but as you say that was unavoidable given position they got themselves in.

    Now that authium is building the plant and financing task has been handballed to them, they dictate the timeline. Galan couldn't finance the build with a project behind it, authium will with no assets of value to secure the debt. Apparently it's in the bag? I didn't see any timelines set on authium, I might have missed it but you'd usually like to see some sort of drop dead clause in these sort of things to avoid being strung along indefinitely.

    Aimo
 
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