Galan Lithium Ltd

Galan Lithium managing director purchases another 84,000 shares on-market

JP Vargas de la Vega has accumulated more than 7.127 million shares in the South American focused lithium company.

Money bags
Galan is examining various processing technologies for the Candelas project

Galan Lithium Ltd (ASX:GLN) managing director Juan Pablo Vargas de la Vega has acquired a further 84,000 shares in on-market trades on July 9 and 10 valued at almost $14,600.

The acquisitions are the latest in a series of transactions by the MD in Galan which is focused on the key battery metal of lithium, primarily in Argentina and within South America’s prolific Lithium Triangle.

He now holds more than 7.127 million shares in direct and indirect interests after also making on-market purchases in June and May.

READ: Galan Lithium managing director continues to support company with on-market purchases

Galan is today trading at 17.5 cents.

The company is at present undertaking a preliminary investigation into ion exchange technologies for processing lithium brines from its Candelas project in Argentina’s Catamarca province.

READ: Galan Lithium to test ion exchange technology for lithium brine processing at Candelas project

This investigation comes after a six-month technical review into alternative processing technologies, with results of both to be fed into a pre-feasibility study for the project’s potential development.

Candelas is on the Hombre Muertos salar, which is proven to host the highest grade and lowest impurity levels in Argentina.

Due to the lead time associated with conducting due diligence into the suitability of ion exchange technologies, the company has chosen to conduct the investigation in parallel to other exploration and operational activities.

READ: Galan Lithium drill results confirm at least 3.5 kilometres of heavy brines

Galan will also investigate a more conventional processing route using evaporation, selective precipitation, purification and precipitation as lithium carbonate.

Results from processing test work will be utilised in the PFS, which is planned to begin after the release of the maiden JORC-compliant resource estimate for the northern portion of Candelas, expected later this quarter.

This estimate will take into account results of stage II drilling at the project.

Quick facts: Galan Lithium Ltd

Price: 0.17 AUD

Market: ASX
Market Cap: $23.91 m


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Galan Lithium makes new discovery at Candelas project in Hombre Muerto

Galan Lithium Ltd (ASX:GLN) advisor Clive Jones speaks to Proactive Investors about the company's new discovery at the Candelas Lithium Brine Project in Agrentina's Hombre Muerto region. Drilling is ongoing, and more detailed sampling and downhole geophysics will be undertaken.

on 13/2/19

2 min read