I don't weigh in on here very often but i believe something has to be asked of the board over the last year. Along with their past shortfalls, the latest partnership with Authium has been Stated as offering "superior financial, technical and timing benefits to other identified alternatives". For the board to choose this option over selling the resource or the "other identified alternatives" without taking it to shareholder vote I would've assumed they would have some sort of report/announcement outlining the decision making backing up these claims.
This agreement reduces Galans scope and cost of Phase 1 but at what "cost" how much is the fee we have to pay to Authium to process the brine which the DFS assumed would be done by Galan and how does this effect DFS numbers etc? I feel shareholders haven't been given enough info to both justify the decision and also front up more cash for them to commit to this agreement.
I'm not as active on here as others so i could've easily missed something or a post that addresses this.
GLN Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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