GLN 1.79% 28.5¢ galan lithium limited

Yes, but that's just sale resp technique try to talk up the...

  1. 2,892 Posts.
    lightbulb Created with Sketch. 96
    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.
 
watchlist Created with Sketch. Add GLN (ASX) to my watchlist
(20min delay)
Last
28.5¢
Change
0.005(1.79%)
Mkt cap ! $117.7M
Open High Low Value Volume
28.5¢ 29.0¢ 27.0¢ $604.7K 2.147M

Buyers (Bids)

No. Vol. Price($)
3 118181 28.0¢
 

Sellers (Offers)

Price($) Vol. No.
28.5¢ 23820 2
View Market Depth
Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
29.0¢
  Change
0.005 ( 2.22 %)
Open High Low Volume
28.5¢ 29.0¢ 27.5¢ 831103
Last updated 15.58pm 03/05/2024 ?
GLN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.