GLN

3.03%

17.0¢ galan lithium limited

Ann: Trading Halt, page-109

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30/01/24

15:40

Post #: 72137443
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Originally posted by spovend: ↑

Apparently Cannacord closed their book mid afternoon already oversubscribed, with Jett still to add to that overnight from the US...Will be heavy scaling back I'd assume. SPP capped at only $1.5MM so will open and close very quick. At $30k limit per holder, that's only 50 holders and its done. I have shares in 3 names and will be taking my $90k, so that leaves 47 holders left to participate

Inclusion of oppies unfortunately a reflection of the very crappy market to raise in and Galan getting themselves backed into a corner financially. However it is what it is now, cant change it, and more importantly I have no concern long-term as confident the DD will be solid (my own DD over 3+ years suggests that and that JP/GLN are super conservative in most of their technical assumptions), and so the Glencore facilitated finance (US70-100MM) will come through in the next 2-3 months, maybe earlier?

Also, the Phased strategy and small start has really helped as imagine we were trying to raise US400MM capital for a full 20ktpa development now in this market. Raising for just a 5.4ktpa Phase 1 now and then likely funding Phase 2+ in a much stronger Li market in late 2024/early 2025 (and when Phase 1 is producing) is a way better scenario and allows us to maintain schedule (as Phase 1 used for Phase 2+). Phase 2 offtake also the much bigger prize here and I still expect it will be exportable soon probably SQM or Albemarle in Chile who will take Phase 2+ (or Ganfeng), and with a much bigger pre-payment for Phase 2.

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I believe the the retail component will be pro rata if oversubscribed, so you may not get the white shark share.

GLN Price at posting: 54.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 17.0¢		Change 0.005(3.03%)		Mkt cap ! $80.57M

Open	High	Low	Value	Volume
17.0¢	17.0¢	16.5¢	$420.7K	2.493M

Buyers (Bids)

No.	Vol.	Price($)
5	334361	17.0¢

Sellers (Offers)

Price($)	Vol.	No.
17.5¢	259700	6

View Market Depth

No.	Vol.	Price($)
2	325000	0.170
8	326201	0.165
15	566113	0.160
8	1790439	0.155
12	596450	0.150

Price($)	Vol.	No.
0.175	259700	6
0.180	144433	5
0.185	120000	2
0.190	58077	2
0.195	32600	2

Last trade - 16.10pm 28/06/2024 (20 minute delay)

GLN (ASX) Chart

Ann: Trading Halt, page-109

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