Just a quick M&A Total Resources chart update which includes the...

Just a quick M&A Total Resources chart update which includes the latest Albemarle LTR offer which has been increased from $5.54b to $6.46b (on a fully diluted EV basis).


Here is the equivalent M&A chart for Measured & Indicated resources:


The value differential is just staggering. You'd think Galan was looking at producing biscuits not Lithium Units. Plenty of risk and cost pressures in underground mining which reduces profitability. If we were in the uranium space our MC would be 100% of NPV regardless of whether we were in Namibia or Malawi and even with a short mine life (most uranium plays have 8 to 15 years of resources), the lower end of this range providing fairly limited timeframe to recoup capex and provide a reasonable return on the investment.

The delays have certainly taken their toll, but I am quite optimistic that we are beyond that now. I think Galan is now in a good position to prove to the market that it will be a cash machine and that it has a pretty clear pathway to production. This is a unique position to be in compared to the number of explorers and developers out there with tiny and/or low grade resources, many of which are unlikely to be economically viable:


ALL IMO DYOR