GLN 9.09% 12.0¢ galan lithium limited

Nice table @daando37. Is this taking into account LiCL...

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    Nice table @daando37. Is this taking into account LiCL payability? Your first column (study dfs 1) does as it has $20,252 which is the 72% payability of their assumed $28,000 LCE price assumption... but your spot figure is $12,798 which is the current LCE spot price, not what GLN will realise via payability. At current LCE spot of US$12k/t I get EBITDA of $22M, using their phase 1 DFS payability of 72.3%. They increased that assumption to 79% in the phase 2 study, even if you go with that it's just $26M.
 
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