GLN 8.73% 28.8¢ galan lithium limited

With Glencore site visit just last week, I'm thinking DD...

  1. 2,604 Posts.
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    With Glencore site visit just last week, I'm thinking DD sign-off is probably 4-6w away still and then maybe a few weeks to obtain funding and initial drawdown of cash so yes, unfortunately GLN probably had no choice but to raise some bridging funds now to cover Feb/March (short term debt terms would of probably been horrendous). Sucks and can armchair quarterback it all we like but that wont change anything, fact is we have an MD and CFO that are doing all this for the very first time and at a time when the Li market is dropped harder and longer than I'm sure they expected. What really matters to me now is getting HMW to production and less so if we could/should of got there with a little less dilution or financed via JV/Candelas sale etc. - If JP succeeds in getting HMW to production he will have achieved what most junior explorers/founders very rarely do (especially maintaining 100% ownership and low SOI), yes a few stumbles and own goals along the way, but my hat will be off to him if/when he does it. Thank god the resource is world class and Tier 1 and we also have DJ/JC/CP helping steering the project and strategy....I've long resided to the fact I will need to hold until at least first production in 1H 2025 to get a decent price now; we are closer than ever at getting there, especially with the US$70-100M financing just around the corner...imo...time for all to take a breather, calm down and remember what we have at HM and where we are still going (vs. so many failure stories of others).
 
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