Latest Galan Lithium (ASX:GLN) News

Galan Lithium Limited has launched a $4 million Share Purchase Plan for existing shareholders following a $13 million institutional placement, aiming to bolster its capital base at a consistent share price of $0.11.

Galan Lithium has locked in a binding funding and offtake agreement with Authium Limited for its Hombre Muerto West project, significantly reducing capital and operating costs. The company raised approximately A$13 million via placement and plans further shareholder funding, aiming for lithium chloride production in H1 2026.

Galan Lithium Limited advances its Hombre Muerto West project with a new mining permit and a significant resource upgrade at Candelas, positioning itself among the global lithium leaders and targeting production in H1 2026.

Galan Lithium Limited has announced a substantial 150% increase in its Candelas Mineral Resource to 1.6 Mt LCE, lifting its total Hombre Muerto West resource to 9.5 Mt LCE and securing a spot among the world’s top 10 lithium projects.

Galan Lithium has received US$3 million from Latam Resources, an affiliate of Chemphys, to fund ongoing operations at its Hombre Muerto West project, advancing its path toward production and an offtake prepayment facility expected in Q1 2025.

Galan Lithium has secured the full Phase 2 mining permit for its Hombre Muerto West project, enabling a production scale-up to 21,000 tonnes per annum of lithium carbonate equivalent. Positioned in the lowest cost quartile, this milestone cements Galan’s role as a key player in the global lithium market.