GLN 0.00% 15.5¢ galan lithium limited

General Discussion Banter GLN, page-3213

  1. 2,892 Posts.
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    Yes, but that's just sale resp technique try to talk up the company.

    Clearly GLN only focused on drill near GXY border where high grade brine is located. South of Hole 6 and part of Hole 7 is all low grade around 100-200ppm. If you include entire south of Hole 6 into your JORC resource estimate, your average grade will drop to (weighted average) may be around 200ppm as larger land mass is all low grades.

    Further, it will cost you millions to drill more holes into low grade areas and cause share price to collapse further, more capital raising. That's why they only want to focus on high grade portion (3.5km X 2.5km, take out Hole 7 low grade) and that's only less than 100,000 tons.

    LPI has over 1100ppm and almost 800,000 tons for $85 million company. Comparably speaking, even your high grade area (about 600ppm) still extremely low grade not to mention only less than 100,000 tons.
 
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