A big difference is that Eramet is a DLE projeict and there is...

A big difference is that Eramet is a DLE projeict and there is no guarantee that its plant will work properly when they try to switch it on next year. Unlike most juniors/mid caps, Eramet has deep enough pockers to ride out one or two years of calibration issues with that plant, but it is still a risk for Glencore.

In contrast HMW Stage 1 is a fairly small low risk pond project. Galan has the advantage of having the former SVP of operations from SQM on board, Jusn Carlos Barerra. He used to have 5,000 people working for him at SQM, so that would give a pre-payment partner quite a lot of comfort that the project will get delivered properly, arguably a much better bet than Eramet.

The main seller of LiCl product in Argentina is SQM. The guy who used to sell it for them was Daniel Jimenez, who is now with Galan. He will have long relationships with all the likely pre-payment partners which iswhy I would think Galan has a very good chance of pulling this off. in Joe Lowry’s podcast with JP a few months ago he mentioned that he really became convinced about this project after having lunch with Jimenez. You can bet that conversation was all about selling LiCl in Argentina

We should know by year end. If they can fund the Stage 1 capex gap with pre-payments, I reckon this stock should start to seriously shift. That is the bet I have taken. I am a newbe to the stock. I just accumulated a position at around 80c av