General Discussion Banter GLN, page-10325

I have plugged Arena into my lithium resource comparison which has been updated recently for the latest ESS MRE (highlighted in yellow with the previous MRE numbers also shown). I believe that Arena only own 65% of the Sal de la Puna Project so this needs to be taken into account. This gives an EV to LCE of $928 AUD per ton of LCE which would value Galan at $18.59 per share (on a Total Mineral Resource basis). At least the people in charge of making acquisitions know what these things are worth even if shareholders don't.