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Galan Lithium (ASX: GLN) Secures Funding for Hombre Muerto West Project

Wed 16 Apr 25, 12:39 AM | Team Kalkine

Image  source: Shutterstock

Highlights

Galan Lithium Limited (ASX: GLN) has secured a binding funding package to support the completion of construction activities at its Hombre Muerto West (HMW) lithium project in Argentina. The company has signed definitive agreements with Authium, which includes a lithium chloride concentrate offtake agreement and an operating agreement for processing technology at HMW.

The partnership with Authium was chosen after a comprehensive review of potential funding options, with Galan concluding that the agreement offers superior financial, technical, and timing benefits compared to other alternatives. Under the terms of the agreements, Galan will sell 45,000 tonnes of lithium chloride concentrate (LCE) to supply Authium's lithium processing operations in the USA over a period of 6 to 12 years.

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