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- Last 2026-11-06
- A$0.21
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$267.1M
- EV
- A$254.8M
- Cash
- A$25.4M
- Debt
- A$0
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Sign in or enter a guest codeAnnouncements
Latest 12 of 24All sources ▸- Quarterly Activities and Cashflow Report, September 2026 quarterOperations
- Appendix 2A: 1,593,334 ordinary shares quoted (issued 1 October 2026)Corporate Action
- Appendix 2A: 3,000,000 ordinary shares quoted (issued 1 October 2026)Corporate Action
- Annual Report 30 June 2026 (FY26 audited accounts)Results
- Board Changes (Chairman resignation)Leadership
- Investor Presentation, August 2026Presentation
- Quarterly Activities and Cashflow Report, June 2026 quarterOperations
- Appendix 3H: 19,238,455 expired options cancelled (22 July 2026)Corporate Action
- Results of General Meeting, 30 April 2026Governance
- Quarterly Activities and Cashflow Report, March 2026 quarterOperations
- Half Year Accounts to 31 December 2025Results
- A$40 Million Institutional Placement to Support 30% Expansion of Phase 1 HMWFinancing
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Q4 CY2026, company guided | First LiCl concentrate sales from HMW Phase 1 | Production | Company Guided | High | Converts the ramp into revenue and starts the Authium offtake and prepayment; the first sales decide whether the 4 ktpa target is credible. |
| November 2026, company guided | Greenbushes South helicopter gravity survey | Exploration | Company Guided | Medium | Exploration catalyst on the Greenbushes-adjacent tenure; co-funded by the WA Exploration Incentive Scheme. |
| Six months from processing start, inferred from the agreement | Authium prepayment drawdowns (US$1m a month after processing) | Economic Arrangement | Inferred | Medium | Up to US$6m of liquidity at SOFR + 6% after six months; repayable through invoice offset. |
| H1 CY2027, company guided | 4 ktpa LCE initial throughput rate in Phase 1 | Production | Company Guided | High | First full-rate test of the nano-filtration process through warmer seasons; winter downtime was reported in the Sept 2026 quarter. |
| Late January 2027, inferred from the reporting pattern | December 2026 quarterly activities and cash flow report | Results | Inferred | Medium | First quarter with sales expected, reporting the first revenue and realised price. |
| H2 CY2027, company guided | Phase 1 expansion to 5.2 ktpa LCE | Construction Or Commissioning | Company Guided | Medium | The expansion is funded by the A$40m placement; earthworks started in the September 2026 quarter. |
| Late September 2027, inferred from the reporting pattern | FY27 annual report with audited revenue and reserve update | Results | Inferred | High | First audited year with revenue; the reserve table will need to be re-stated against the Phase 1 plan. |
Executive roster
As of 2026-09-30Background checks ▸FY26 Annual Report directors and officers list: the Managing Director, the Chief Financial Officer and the Company Secretary. No other senior manager is disclosed. Non-executive directors are excluded by the schema.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Juan Pablo Vargas de la Vega | Managing Director | Executive Director · Chief Executive | — | Annual Report 30 June 2026 (FY26 audited accounts) · Investor Presentation, August 2026 |
| Ross Dinsdale | Chief Financial Officer | Finance | — | Annual Report 30 June 2026 (FY26 audited accounts) |
| Katherine Garvey | Company Secretary | Company Secretary | 2026-01-23 | Annual Report 30 June 2026 (FY26 audited accounts) · Appointment of New Director and Company Secretary |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Hombre Muerto West Phase 1
AR
Ramping Producer100% ownedLithium
Construction and commissioning complete; first LiCl concentrate processed; first sales targeted for Q4 CY2026; ramp to 4 ktpa LCE by H1 2027 and 5.2 ktpa by H2 2027
- Production annualised (attributable)
- —
- Production (last FY, 100%)
- —
- AISC (latest quarter)
- —
- AISC margin at spot
- —
- Delivery vs guidance
- —
- Reserve life
- —
- Head grade
- —
Project location
Site imagery
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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$460M8% discount
IRR36%Published return
Initial capexUS$104MPublished capital estimate
Operating cost3,263USD/t LCE
Phase 1 DFS post-tax NPV8 (July 2023 price deck, not in the downloaded set) with Authium restatement of operating cost to US$3,263/t LCE
Milestones3
- First LiCl concentrate sales
Pending · High materiality
- 4 ktpa LCE throughput rate
Pending · High materiality
- 5.2 ktpa LCE expansion
Pending · Medium materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| HMW Phase 1 construction and environmental approvals and production licence | Catamarca Province, Argentina | Granted | — | No |
| RIGI incentive approval | Argentina (national) | Granted | — | No |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| HMW Phase 1 DFS (3 July 2023), 4 ktpa LCE, nano-filtration not yet adopted | DFS | Reaffirmed | 2023-07-03 | Post-tax NPV8 US$460m, IRR 36%, initial capex US$104m before the Authium liming removal; company says the material assumptions still apply; the processing route has since changed to Authium nano-filtration. |
Core asset
Hombre Muerto West Phase 2 to 4 (21 ktpa LCE, then up to 60 ktpa)
AR
DFS Unfunded Developer100% ownedLithium
Phase 2 DFS (October 2023) with construction permits held; no funding committed; excluded from base value.
- Study
- DFS
- Post-tax NPV (study prices, attributable)
- US$2.0bd
- NPV restated at our deck (attributable)
- Locked
- IRR
- 4,300.0%s
- Initial capex (100%)
- US$278.0ms
- Capital intensity
- US$13,238/(t/yr)d
- LoM AISC
- —
- Mine life
- 40.0 yrss
Published study economicsIssuer or study metrics
NPVUS$2B8% discount
IRR43%Published return
Initial capexUS$278MPublished capital estimate
Phase 2 DFS (Oct 2023) post-tax NPV8; not valued in the base
Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 4.7M t | 866 mg/L Li (HMW measured) | Lithium | 2025-01-29 |
| Mineral Resource | indicated | 1.6M t | 894 mg/L Li (HMW indicated) | Lithium | 2025-01-29 |
| Mineral Resource | inferred | 1.5M t | 926 mg/L Li (HMW inferred) | Lithium | 2025-01-29 |
| Ore Reserve | proven_and_probable | 806.4K t | 864.2 mg/L Li average | Lithium | 2023-10-03 |
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Phase 2 (21 ktpa LCE) construction permits | Catamarca Province, Argentina | Granted | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| HMW Phase 2 DFS (3 October 2023), 21 ktpa LCE | DFS | Reaffirmed | 2023-10-03 | Post-tax NPV8 US$2 billion, IRR 43%, initial capex US$278m, 40-year life; price deck and opex not in the downloaded set. |
Material
Candelas lithium brine resource
AR
Resource Stage100% ownedLithium
JORC resource (January 2025); preliminary economic assessment referenced; no royalties; plan to use HMW infrastructure in Phase 4.
- Contained metal (attributable)
- 1.6m td
- Resource grade
- 683 mg/L
- % Measured + Indicated
- 78.6%d
- Resource tonnes
- —
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | indicated | 1.3M t | 689 mg/L Li | Lithium | 2025-01-29 |
| Mineral Resource | inferred | 350K t | 661 mg/L Li | Lithium | 2025-01-29 |
Other
Greenbushes South lithium exploration (Western Australia)
AU
Early Explorer100% ownedLithium
Exploration licences E70/4629 and E70/4889 adjacent to the Greenbushes mine; helicopter gravity survey scheduled for November 2026.
- Ownership
- 10,000.0%
- Commodity
- Li2Or
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- A$547.8k
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Tenements2
Milestones1
- Gravity survey data and interpretation
Pending · Low materiality
Other
James Bay lithium (Quebec) JV with Redstone Resources (50%)
CA
Early Explorer50% ownedLithium
50/50 JV with Redstone (JV manager); no material activity in FY26.
- Ownership
- 5,000.0%
- Commodity
- Li2Or
- Country
- CAr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash A$25.4m at 30 Sep 2026 and no debt. Runway is about two and a half quarters on the September quarter burn, before first sales. Cash fell A$10.1m in the quarter and A$30m was spent on exploration and development in FY26. Funding for the 5.2 ktpa expansion and any Phase 2 growth is not committed, so a further raising is likely before the cash is used up. The Authium prepayment is available only after processing and the lease payments start in November 2026.
Inventory composition1
Inventory carried at A$2.78m (balance sheet, 30 Jun 2026) is brine in the ponds; no concentrate or product is on hand.
- Lithium brine in HMW evaporation ponds (estimated 9,000 t LCE at 30 Jun 2026; the company also quotes about 10 kt LCE)
- A$2.8M carrying · 9,000 t LCE
Capital structure
Ownership and dilution
- Ordinary shares
- 1.3B
- Fully diluted
- 1.4B
Ordinary shares: 1,264,403,843 at 30 Jun 2026 (AR note 12) plus 1,771,450 (Jul), 434,672 (PIP, Jul), 666,666 (Aug) and 260,000 (Aug) = 1,267,536,631 at 22 Sep 2026 (AR p73); plus 4,593,334 shares issued 1 Oct 2026 (Appendix 2A, 2 Oct 2026) = 1,272,129,965. Fully diluted adds in-the-money and nil-strike securities (90,909,090 at A$0.15, 500,000 at A$0.165, 5,000,000 at A$0.35, 960,780 nil, 21,263,334 rights) = 1,390,763,169 and exercise proceeds of A$15.47m. Out-of-the-money: 1,000,000 at A$0.50 and 47,645,627 listed at A$0.65. Source conflict: the 500,000 A$0.165 option expiry is 16 Aug 2028 in AR note 12 and 16 Jun 2028 in the Directors report; the note is used.
Security classes9
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares | Ordinary Share | 1.3B | — | — |
| Unlisted options, exercisable A$0.15, 1 Sep 2028 | Option | 45.5M | A$0.15 | 2028-09-01 |
| Unlisted options, exercisable A$0.15, 5 Nov 2028 | Option | 45.5M | A$0.15 | 2028-11-05 |
| Unlisted options, exercisable A$0.165 (note 12 expiry 16 Aug 2028) | Option | 500K | A$0.165 | 2028-08-16 |
| Unlisted options, exercisable A$0.35, financing vesting condition | Option | 5M | A$0.35 | 2029-11-20 |
| Unlisted options, exercisable A$0.50 (out of the money) | Option | 1M | A$0.5 | 2027-11-05 |
| Unlisted zero-exercise options (ESS, 13 Aug 2026) | Option | 960.8K | A$0 | 2029-08-13 |
| Listed options GLNOB, exercisable A$0.65 (out of the money) | Option | 47.6M | A$0.65 | 2029-03-20 |
| Performance and service rights (nil exercise) | Performance Right | 21.3M | A$0 | — |
KPI history
Operating metrics
Operating metric source table6
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Cash at year end, 30 June 2025 (restated comparative) | Company | FY25 year end | Point In Time | 4,447,999 AUD | Reported |
| Cash at quarter end, September 2025 (Appendix 5B) | Company | Sep 2025 quarter | Point In Time | 10,583,000 AUD | Reported |
| Cash at 31 December 2025 (half-year accounts) | Company | Dec 2025 quarter | Point In Time | 14,907,460 AUD | Reported |
| Cash at quarter end, March 2026 (after A$40m placement) | Company | Mar 2026 quarter | Point In Time | 40,737,000 AUD | Reported |
| Cash at 30 June 2026 | Company | FY26 year end | Point In Time | 35,496,993 AUD | Reported |
| Cash at 30 September 2026 (Appendix 5B) | Company | Sep 2026 quarter | Point In Time | 25,388,000 AUD | Reported |
Company guidance3
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| First Licl Concentrate Sales | hmw_phase1 | Q4 CY2026 | — | — date | Current |
| Throughput Rate | hmw_phase1 | H1 CY2027 | 4,000 | 4,000 t/yr LCE | Current |
| Expanded Throughput Rate (Earthworks Started) | hmw_phase1 | H2 CY2027 | 5,200 | 5,200 t/yr LCE | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-02-04Ann. 2026-01-29 | Raising | A$35.5M | 86.6M | — | Completed | — |
| 2026-05-06Ann. 2026-01-29 | Raising | A$5.5M | 13.4M | — | Completed | — |
| 2025-11-05Ann. 2025-06-20 | Raising | A$20M | 181.8M | — | Completed | — |
| 2026-11-01Ann. 2025-04-16 | Lease | A$12M | — | — | Ongoing | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Live arrangements in the FY26 Annual Report, the Authium announcements and the Phase 1 funding documents; no terminated arrangements identified in the documents read.
Galan sells 45 kt LCE of lithium chloride concentrate to Authium (delivered CIF USA) over 6 to 12 years, with a US$6m prepayment facility drawn at US$1m a month once brine is processed through Authium nano-filtration. Right of first refusal on extension.
Offtake · Active- Counterparties
- Authium Limited
- Applies to
- Hombre Muerto West Phase 1 · Lithium
- Economic direction
- Benefit
- Period
- From 2025-04-16; no end date stated
- Key terms
- Contract quantity: 45,000 t LCE
Delivery term: 6 to 12 years, until 45 kt delivered
Delivery terms: CIF USA
Prepayment facility: 6 USD m
Prepayment interest: None within 6 months of drawdown; SOFR + 6% thereafter
How it affects our valuation
No valuation treatment is available for this arrangement.
Nano-filtration plant funded and operated by Authium, paid for through a lease whose payments are per tonne of concentrate processed (capped at 30,000 t at A$400/t) with fixed in-substance payments of A$12m; recognised as a right-of-use asset and lease liability.
Tolling Or Processing · Active- Counterparties
- Authium Limited
- Applies to
- Hombre Muerto West Phase 1 · Lithium
- Economic direction
- Burden
- Period
- From 2025-04-16; no end date stated
- Key terms
- In-substance fixed payments over lease term: 12,000,000 AUD
Variable payment cap: 30,000 t LCE
Variable rate: 400 AUD/t
Lease liability at 30 Jun 2026: 13,043,754 AUD
Payments commence: November 2026
How it affects our valuation
No valuation treatment is available for this arrangement.
50/50 JV for James Bay and Taiga projects; Redstone is JV manager; no material activity in FY26.
Joint Venture · Active- Counterparties
- Redstone Resources Limited
- Applies to
- James Bay lithium (Quebec) JV with Redstone Resources (50%) · Lithium
- Economic direction
- Mixed
- Period
- From 2023-12-08; no end date stated
- Key terms
- Galan interest: 50 pct
How it affects our valuation
No valuation treatment is available for this arrangement.
Approval under the RIGI regime (28 August 2025): 25% corporate tax rate, 30 years of fiscal stability, preferential FX access and import duty exemptions.
Other · Active- Counterparties
- Argentine Government (RIGI committee)
- Applies to
- Hombre Muerto West Phase 1 · Hombre Muerto West Phase 2 to 4 (21 ktpa LCE, then up to 60 ktpa) · Lithium
- Economic direction
- Benefit
- Period
- From 2025-08-28; no end date stated
- Key terms
- Corporate income tax rate: 25 pct
Fiscal stability period: 30 years
Accelerated depreciation: 2 years
How it affects our valuation
No valuation treatment is available for this arrangement.
Declared tenement commitments at Greenbushes not provided for in the financial statements.
Other · Active- Counterparties
- Greenbushes tenement vendors
- Applies to
- Greenbushes South lithium exploration (Western Australia) · Lithium
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Tenement option commitments at 30 June 2026: 291,658 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
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Sensitivity lab
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The 2026 issuer report records Galan’s completion and commissioning of HMW Phase 1 and first processed lithium chloride, while sales and ramp-up remained ahead. Vargas’s long tenure and partial career credentials, Dinsdale’s finance profile, Robbins’s resignation and Garvey’s appointment/credentials are better documented. A Catamarca court injunction requires cumulative basin-impact work and pauses new Los Patos/Salar del Hombre Muerto permits; Galan says existing HMW Phase 1 permits were unaffected and it does not plan to use Los Patos water. The court record does not establish personal misconduct or a claim against Galan in the later information-access proceeding. Wider person-specific adverse searches remain incomplete.
Decision-relevant facts
Material summary
Juan Pablo Vargas de la Vega
Managing Director
Role FitAnalyst Inference · Medium materiality
Relevance of current Managing Director role
The issuer identifies Juan Pablo Vargas de la Vega as Managing Director. This role is relevant to the company's current mining stage and needs; this is an analyst role-fit inference based on the disclosed title and company profile, not evidence of past personal performance. The reviewed sources do not establish a complete prior-employer chronology, independently verified credentials or full concurrent-interest list.
Responsibility not applicable · This is a role-fit judgment, not an outcome or misconduct finding.
Annual Report 30 June 2025 · Issuer management page, Juan Pablo Vargas de la Vega entry
Company SuccessIssuer Reported · Medium materiality
Galan Lithium reported project and corporate progress
Galan’s FY2026 report now records completed HMW Phase 1 construction, commissioning of the nanofiltration plant and first processed lithium chloride during the financial year. Management remained focused on ramp-up toward nameplate rates and first sales; no commercial sales or steady-state production are established in this finding. The milestone occurred during the MD’s tenure but is not personally attributed to him.
Role overlaps event; causation unproven · The role may overlap the period, but the issuer report does not assign sole or causal credit to this executive.
Annual Report 2026 · printed p. 4, Principal Activities and FY2026 operating review
Company SuccessIssuer Reported · High materiality
Galan completed HMW Phase 1 construction and produced first processed lithium chloride
Galan’s FY2026 annual report says Phase 1 construction was completed, the nanofiltration plant commissioned, and first processed lithium chloride produced during the year. The report describes a transition to producer status but says the focus remains ramp-up and first product sales; commercial sales and steady-state production were not established in the reviewed report. This is a company outcome during Vargas’s long CEO tenure, not solely attributable to him.
Role overlaps event; causation unproven · Vargas was Managing Director throughout the year; the annual report does not allocate sole responsibility for construction, commissioning or production.
Annual Report 2026 · printed p. 4, Principal Activities; annual report lines 347–354
EnvironmentDocumented · High materiality
Catamarca court ordered cumulative-impact assessment and paused new basin permits
On 13 March 2024 the Catamarca Supreme Court granted partial interim relief in a community environmental action, ordering a cumulative and integral lithium-mining impact study for the Río Los Patos–Salar del Hombre Muerto basin, open information and participation, and a pause on new permits/authorizations for works or activities in that area until completion. The proceeding addressed aggregate basin impacts and the Province; it did not adjudicate personal misconduct or find Galan responsible for environmental harm. Galan stated on 18 March 2024 that its already-granted HMW Phase 1 permits/EIAs were unaffected and that it did not plan to source water from Los Patos, so Phase 2 was not expected to be affected. A September 2025 court decision on environmental-record access again cited the injunction and identified Galan/Candelas-related permits in an administrative records dispute against the provincial ministry; that proceeding did not name Galan as respondent.
Role overlaps event; causation unproven · The order ran against provincial ministries across cumulative basin development; the record creates project-permitting and information-access context during Vargas’s tenure, not a personal fault finding. The company rebuttal addresses expected permit effect but is not a court finding.
Sentencia Interlocutoria No. 8, Corte 054/2022, Guitián v. Poder Ejecutivo Nacional y otro · Sentencia Interlocutoria No. 8, operative clauses at pp. 28–29 and 45–46
Galan’s HMW Project Phase 1 & 2 Unaffected by Provincial Court Ruling · pp. 1–2, effect on Phase 1 and Phase 2 water sourcing
Sentencia Corte No. 041/2025 – environmental information access · paragraphs 50–82; paras. 59 and 64–76 identify the records/injunction
Evidence gaps · 2
- A complete dated career chronology, verified education/professional membership and full concurrent-interest record were not established.
- Person-specific enforcement, litigation, safety, environmental, legal and governance searches across material former employers remain uncompleted; no clearance conclusion is implied.
Ross Dinsdale
CFO
Role FitAnalyst Inference · Medium materiality
Relevance of current CFO role
The issuer identifies Ross Dinsdale as CFO. This role is relevant to the company's current mining stage and needs; this is an analyst role-fit inference based on the disclosed title and company profile, not evidence of past personal performance. The reviewed sources do not establish a complete prior-employer chronology, independently verified credentials or full concurrent-interest list.
Responsibility not applicable · This is a role-fit judgment, not an outcome or misconduct finding.
Annual Report 30 June 2025 · Issuer management page, Ross Dinsdale entry
Evidence gaps · 2
- A complete dated career chronology, verified education/professional membership and full concurrent-interest record were not established.
- Person-specific enforcement, litigation, safety, environmental, legal and governance searches across material former employers remain uncompleted; no clearance conclusion is implied.
Mike Robbins
Company Secretary (until 23 January 2026)
Role FitAnalyst Inference · High materiality
Former Company Secretary role
The 2026 annual report records that Mike Robbins resigned as Company Secretary on 23 January 2026. The selected bundle’s 26 September roster is superseded on this point.
Responsibility not applicable · This is a role-fit judgment, not an outcome or misconduct finding.
Annual Report 30 June 2026 · printed p.1, Corporate Directory
Evidence gaps · 2
- The 2026 annual report resolves the Company Secretary departure date; full earlier career and independently verified credentials remain unestablished.
- Person-specific enforcement, litigation, safety, environmental, legal and governance searches across material former employers remain uncompleted; no clearance conclusion is implied.
Katherine Garvey
Company Secretary
Role FitAnalyst Inference · Medium materiality
Company Secretary appointment disclosed
Galan Lithium reports that Katherine Garvey was appointed Company Secretary on 23 January 2026. No biography or credential details were available in the reviewed annual report.
Individual involvement documented · The company records the appointment; no wider personal performance claim is made.
Annual Report 30 June 2026 · printed p.1, Corporate Directory
Evidence gaps · 2
- The annual report records the appointment but provides no full career chronology, education, professional memberships or concurrent interests.
- Person-specific regulator, court, safety, environmental, legal and governance searches across material former employers were not completed; no clearance conclusion is implied.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2025-09-19 · 1,057,859,633 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 8.59% | 90,909,091 | |
| 2 | 7.16% | 75,753,213 | |
| 3 | 7.07% | 74,743,139 | |
| 4 | 6.21% | 65,658,277 | |
| 5 | 6.06% | 64,087,838 | |
| 6 | 4.05% | 42,835,724 | |
| 7 | 3.01% | 31,879,506 | |
| 8 | 2.73% | 28,910,348 | |
| 9 | 2.67% | 28,229,227 | |
| 10 | 1.63% | 17,269,482 | |
| 11 | 1.60% | 16,955,870 | |
| 12 | 1.39% | 14,739,103 | |
| 13 | 1.17% | 12,414,213 | |
| 14 | 0.80% | 8,457,160 | |
| 15 | 0.77% | 8,169,697 | |
| 16 | 0.66% | 6,950,000 | |
| 17 | 0.65% | 6,879,622 | |
| 18 | 0.60% | 6,314,385 | |
| 19 | 0.59% | 6,200,000 | |
| 20 | 0.54% | 5,737,895 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 10.52%Issued shares | 2025-09-19 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- Register is dated 19 September 2025; no more recent complete holder table was located in the reviewed cache.
- Clean Elements’ substantial-holder quantity of 111,295,098 is from its last lodged notice and the report warns that its 10.52% figure is based on issued capital at the notice date.
Sources
- Annual Report 30 June 2025
ASX announcement / Galan Lithium Limited · Published 2025-09-30 · Accessed 2026-10-09
Annual report says ordinary-share data is as at 19 September 2025: 1,057,859,633 shares and top 20 accounts.
page 69, Additional Shareholder Information, local copy downloads/GLN/2025/2025-09-30_Annual Report 30 June 2025.pdf
- Annual Report 30 June 2025
ASX announcement / Galan Lithium Limited · Published 2025-09-30 · Accessed 2026-10-09
Clean Elements Ltd 111,295,098 shares; report says 10.52% is based on issued capital at the date of its ASX notification.
page 70, Substantial Shareholders, local copy downloads/GLN/2025/2025-09-30_Annual Report 30 June 2025.pdf
Disclosed activity
Insider transactions
Trading activity19 buys · 0 sells shownNet cash last 12 months A$6.1mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-10-01 | Terry Gardiner
Details & evidence for Terry Gardiner on 2026-10-01As disclosed: Conversion of 260,000 vested service rights into 260,000 fully paid ordinary shares; nil consideration.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseService rights converted to fully paid ordinary shares | 260,000 | —Non Cash | — | — |
| 2026-08-11 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2026-08-11As disclosed: On-market acquisition of 300,000 ordinary shares for A$103,010.00.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 300,000 | AUD 103,010.00 | AUD 0.343367Calculated average | — |
| 2026-08-10 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2026-08-10As disclosed: On-market acquisition of 476,722 ordinary shares for A$157,107.40.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 476,722 | AUD 157,107.40 | AUD 0.329558Calculated average | — |
| 2026-08-07 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2026-08-07As disclosed: On-market acquisition of 23,278 ordinary shares for A$7,099.79.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 23,278 | AUD 7,099.79 | AUD 0.305Calculated average | — |
| 2026-08-06 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2026-08-06As disclosed: On-market acquisition of 500,000 ordinary shares for A$155,000.00.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 500,000 | AUD 155,000.00 | AUD 0.31Calculated average | — |
| 2026-08-05 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2026-08-05As disclosed: On-market acquisition of 1,000,000 ordinary shares for A$300,000.00.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 1,000,000 | AUD 300,000.00 | AUD 0.3Calculated average | — |
| 2026-07-21 | Ofer Amir
Details & evidence for Ofer Amir on 2026-07-21As disclosed: Direct on-market acquisition of 1,000,000 ordinary shares for A$296,133.
director · Start not disclosed Clean Elements Ltd · controls and is a major shareholder of Clean Elements Ltd, which holds disclosed indirect interests Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 1,000,000 | AUD 296,133.00 | AUD 0.296133Calculated average | — |
| 2026-07-21 | Ofer AmirClean Elements Ltd
Details & evidence for Ofer Amir on 2026-07-21As disclosed: Clean Elements Ltd on-market acquisition of 2,000,000 ordinary shares for A$590,000.
director · Start not disclosed Clean Elements Ltd · controls and is a major shareholder of Clean Elements Ltd, which holds disclosed indirect interests Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 2,000,000 | AUD 590,000.00 | AUD 0.295Calculated average | — |
| 2026-05-06 | Ofer AmirClean Elements Ltd
Details & evidence for Ofer Amir on 2026-05-06As disclosed: Clean Elements Ltd participated in a shareholder-approved placement on 6 May 2026, acquiring 10,975,610 shares for A$4,500,000; Ofer Amir controls and is a major shareholder of Clean Elements.
director · Start not disclosed Clean Elements Ltd · controls and is a major shareholder of Clean Elements Ltd, which holds disclosed indirect interests Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | SubscriptionFully paid ordinary shares | 10,975,610 | AUD 4,500,000.00 | AUD 0.41Calculated average | — |
| 2025-07-04 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2025-07-04As disclosed: Participation in director placement approved by shareholders on 5 June 2025; acquired 1,818,182 shares for A$200,000.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notices ↗ Change of Director's Interest Notices ↗ | SubscriptionFully paid ordinary shares | 1,818,182 | AUD 200,000.00 | AUD 0.11Calculated average | — |
| 2025-07-04 | Terry Gardiner
Details & evidence for Terry Gardiner on 2025-07-04As disclosed: Participation in director placement approved by shareholders on 5 June 2025; acquired 800,000 shares for A$88,000.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notices ↗ Change of Director's Interest Notices ↗ | SubscriptionFully paid ordinary shares | 800,000 | AUD 88,000.00 | AUD 0.11Calculated average | — |
| 2025-06-27to 2025-06-30 | Terry Gardiner
Details & evidence for Terry Gardiner on 2025-06-27As disclosed: On-market acquisitions of 925,880 ordinary shares across 27 and 30 June 2025; the notice gives a combined amount and does not allocate shares or consideration by date.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 925,880 | AUD 95,792.00 | AUD 0.10346Calculated average | — |
| 2025-05-30 | Terry Gardiner
Details & evidence for Terry Gardiner on 2025-05-30As disclosed: On-market acquisition of 90,000 ordinary shares for A$8,363.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 90,000 | AUD 8,363.00 | AUD 0.092922Calculated average | — |
| 2025-05-09 | Terry Gardiner
Details & evidence for Terry Gardiner on 2025-05-09As disclosed: On-market acquisition of 100,000 ordinary shares for A$10,582.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 100,000 | AUD 10,582.00 | AUD 0.10582Calculated average | — |
| 2025-05-02 | Terry Gardiner
Details & evidence for Terry Gardiner on 2025-05-02As disclosed: On-market acquisition of 90,000 ordinary shares for A$9,308. The corrected Appendix 3Y replaces the same-day original filing.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Correction to Appendix 3Y ↗ Correction to Appendix 3Y ↗ Correction to Appendix 3Y ↗ | PurchaseFully paid ordinary shares | 90,000 | AUD 9,308.00 | AUD 0.103422Calculated average | — |
| 2023-12-12 | Terry Gardiner
Details & evidence for Terry Gardiner on 2023-12-12As disclosed: On-market acquisition of 200,000 ordinary shares; aggregate consideration A$102,058.
director · Start not disclosed TJ & VH Gardiner (Terry Gardiner Super Fund A/C) · beneficiary of super fund account; securities disclosed as indirect Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 200,000 | AUD 102,058.00 | AUD 0.51029Calculated average | — |
| 2023-12-12 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2023-12-12As disclosed: On-market acquisition of 249,680 ordinary shares; aggregate consideration A$130,067.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 249,680 | AUD 130,067.00 | AUD 0.520935Calculated average | — |
| 2023-10-12 | Daniel Jimenez
Details & evidence for Daniel Jimenez on 2023-10-12As disclosed: Conversion of 1,000,000 options into ordinary shares, disclosed consideration A$210,000; stated option exercise price A$0.21.
director · Start not disclosed Inversiones Linz Ltda · beneficiary, director and shareholder; notice describes indirect interest through this entity Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseFully paid ordinary shares (conversion of options) | 1,000,000 | AUD 210,000.00 | — | — |
| 2023-07-14 | Juan Pablo Vargas de la VegaPatiperro Pty Ltd (Patiperro S/Fund)
Details & evidence for Juan Pablo Vargas de la Vega on 2023-07-14As disclosed: On-market acquisition of 100,000 ordinary shares (Patiperro S/Fund indirect shares); disclosed cash consideration is aggregated across both accounts and not allocated.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 100,000 | —Mixed Unallocated | — | — |
| 2023-07-14 | Juan Pablo Vargas de la Vega
Details & evidence for Juan Pablo Vargas de la Vega on 2023-07-14As disclosed: On-market acquisition of 15,000 ordinary shares (direct shares); disclosed cash consideration is aggregated across both accounts and not allocated.
director · Start not disclosed Patiperro Pty Ltd (Patiperro S/Fund) · beneficiary of Patiperro Pty Ltd (Patiperro S/Fund); indirect securities interest Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 15,000 | —Mixed Unallocated | — | — |
| 2023-02-16 | Daniel Jimenez
Details & evidence for Daniel Jimenez on 2023-02-16As disclosed: On-market acquisition of 105,000 fully paid ordinary shares; disclosed consideration A$126,000.
director · Start not disclosed Inversiones Linz Ltda · beneficiary, director and shareholder; notice describes indirect interest through this entity Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully paid ordinary shares | 105,000 | AUD 126,000.00 | AUD 1.2Calculated average | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory30 documents
GLN ASX close 4 November 2026 (reference price, local market database with market data provider feed)Market Data · LowMetadata Only
Reference price A$0.205 close on 4 November 2026 (fresh, 0 days), volume 1,986,633, from the local ASX price database that miners.reference_price reads.
- Document ID
- mkt_close_20261104
- Published UTC
- 2026-11-04T05:00:00Z
- Projects
- —
- Commodities
- lithium
Market snapshot (price performance, liquidity, peer database) at cutoff 4 November 2026Market Data · LowMetadata Only
Market snapshot from miners.v8db.market_snapshot: 52-week range A$0.14 to A$0.545; 1M -29%, 12M +37%; 20-day average traded value A$0.57m. Peer database holds no published lithium peer; lithium spot null.
- Document ID
- market_snapshot_20261104
- Published UTC
- 2026-11-04T05:00:00Z
- Projects
- —
- Commodities
- lithium
Quarterly Activities and Cashflow Report, September 2026 quarterOperations · HighExtracted
September 2026 quarter: HMW ramp-up, first LiCl sales Q4 CY2026, 4 ktpa target H1 2027, 5.2 ktpa expansion earthworks, cash A$25.4m, no debt, Appendix 5B figures.
- Document ID
- q_sep26
- Published UTC
- 2026-10-29T21:19:05Z
- Projects
- hmw_phase1
- Commodities
- lithium
Management assessment summary (local research product, GLN)Governance · LowMetadata Only
Local management assessment: executive team coverage, Catamarca court injunction on Los Patos and Salar del Hombre Muerto permits (company says Phase 1 permits unaffected), low evidence confidence.
- Document ID
- mgmt_assessment_local
- Published UTC
- 2026-10-08T23:00:00Z
- Projects
- —
- Commodities
- lithium
Insider dealings (data/insider-transactions.db, directors view)Governance · LowMetadata Only
Director transactions to 1 October 2026 (service rights conversions, on-market purchases disclosed in the September 2026 quarter).
- Document ID
- insider_dealings_db
- Published UTC
- 2026-10-05T23:00:00Z
- Projects
- —
- Commodities
- lithium
Appendix 2A: 1,593,334 ordinary shares quoted (issued 1 October 2026)Corporate Action · LowExtracted
Quotation of 1,593,334 ordinary shares issued on exercise of options (1 October 2026).
- Document ID
- qt_oct26
- Published UTC
- 2026-10-02T06:10:25Z
- Projects
- hmw_phase1
- Commodities
- lithium
Appendix 2A: 3,000,000 ordinary shares quoted (issued 1 October 2026)Corporate Action · LowExtracted
Quotation of 3,000,000 ordinary shares issued on exercise of options (1 October 2026).
- Document ID
- qt_oct26b
- Published UTC
- 2026-10-02T06:21:25Z
- Projects
- hmw_phase1
- Commodities
- lithium
Annual Report 30 June 2026 (FY26 audited accounts)Results · HighExtracted
Audited FY26 accounts (year to 30 June 2026): loss, cash A$35.5m, no revenue, shares 1,264,403,843, Phase 1 construction complete, Authium arrangements, RIGI approval, resource and reserve tables, subsequent events.
- Document ID
- ar2026
- Published UTC
- 2026-09-30T06:55:00Z
- Projects
- hmw_phase1 · candelas
- Commodities
- lithium
Board Changes (Chairman resignation)Leadership · MediumExtracted
Richard Homsany resigned as Non-Executive Chairman effective 1 October 2026; Daniel Jimenez became Chairman.
- Document ID
- board2026
- Published UTC
- 2026-09-30T22:24:43Z
- Projects
- —
- Commodities
- lithium
Appendix 3H: 500,000 performance rights lapsed (11 September 2026)Corporate Action · LowExtracted
Cessation of 500,000 performance rights on termination of employment.
- Document ID
- cess_sep26
- Published UTC
- 2026-09-11T00:00:00Z
- Projects
- hmw_phase1
- Commodities
- lithium
Investor Presentation, August 2026Presentation · MediumPartial
Company presentation: shares 1,267m and cash A$35.5m at 31 July 2026, Phase 1 and Phase 2 status, Authium, RIGI tax terms. Image-classified pages; used for descriptive context only.
- Document ID
- inv_aug26
- Published UTC
- 2026-08-04T22:21:07Z
- Projects
- hmw_phase1 · candelas
- Commodities
- lithium
Quarterly Activities and Cashflow Report, June 2026 quarterOperations · HighExtracted
June 2026 quarter activities and Appendix 5B: cash A$35.5m at quarter end.
- Document ID
- q_jun26
- Published UTC
- 2026-07-30T22:32:34Z
- Projects
- hmw_phase1
- Commodities
- lithium
Appendix 3H: 19,238,455 expired options cancelled (22 July 2026)Corporate Action · LowExtracted
Cessation of 19,238,455 options exercisable at A$0.35 that expired on 18 July 2026.
- Document ID
- cess_jul26
- Published UTC
- 2026-07-22T03:56:38Z
- Projects
- hmw_phase1
- Commodities
- lithium
Results of General Meeting, 30 April 2026Governance · LowExtracted
Shareholders approved the Tranche 2 director and Clean Elements placement issue (LR 10.11).
- Document ID
- gm2026
- Published UTC
- 2026-04-30T06:11:43Z
- Projects
- hmw_phase1
- Commodities
- lithium
Quarterly Activities and Cashflow Report, March 2026 quarterOperations · MediumExtracted
March 2026 quarter activities and Appendix 5B: cash A$40.7m at quarter end.
- Document ID
- q_mar26
- Published UTC
- 2026-04-27T22:20:42Z
- Projects
- hmw_phase1
- Commodities
- lithium
Half Year Accounts to 31 December 2025Results · MediumExtracted
Half-year accounts (six months to 31 December 2025) during Phase 1 construction and funding.
- Document ID
- hy2026
- Published UTC
- 2026-03-13T06:21:40Z
- Projects
- hmw_phase1
- Commodities
- lithium
A$40 Million Institutional Placement to Support 30% Expansion of Phase 1 HMWFinancing · HighExtracted
A$40m institutional placement at A$0.41 (Clean Elements supportive) to lift Phase 1 from 4 to 5.2 ktpa LCE; A$1m director placement subject to approval.
- Document ID
- pl2026
- Published UTC
- 2026-01-28T22:32:16Z
- Projects
- hmw_phase1
- Commodities
- lithium
Appointment of New Director and Company SecretaryLeadership · MediumExtracted
Ofer Amir appointed Non-Executive Director; Katherine Garvey appointed Company Secretary; Mike Robbins resigned as Company Secretary.
- Document ID
- appt2026
- Published UTC
- 2026-01-22T22:25:54Z
- Projects
- —
- Commodities
- lithium
Quarterly Activities and Cashflow Report, December 2025 quarterOperations · MediumExtracted
December 2025 quarter activities and Appendix 5B: cash A$14.9m at quarter end.
- Document ID
- q_dec25
- Published UTC
- 2026-01-19T22:12:18Z
- Projects
- hmw_phase1
- Commodities
- lithium
Change in substantial holdingGovernance · LowMetadata Only
Substantial holding change notice (metadata only; no text layer in the cached copy). Not relied on for any figure.
- Document ID
- sh2025
- Published UTC
- 2025-11-07T07:27:31Z
- Projects
- —
- Commodities
- lithium
Early Completion of Strategic Placement (tranche 2)Financing · MediumExtracted
Tranche 2 of the strategic placement completed early on 5 November 2025.
- Document ID
- early2025
- Published UTC
- 2025-11-04T22:07:40Z
- Projects
- hmw_phase1
- Commodities
- lithium
Quarterly Activities and Cashflow Report, September 2025 quarterOperations · MediumExtracted
September 2025 quarter activities and Appendix 5B.
- Document ID
- q_sep25
- Published UTC
- 2025-10-30T22:19:48Z
- Projects
- hmw_phase1
- Commodities
- lithium
Annual Report 30 June 2025 (FY25 accounts)Results · HighExtracted
FY25 audited accounts (comparatives restated in the FY26 report): cash A$4.4m, shares 957,978,401 at 30 June 2025.
- Document ID
- ar2025
- Published UTC
- 2025-09-30T06:27:45Z
- Projects
- hmw_phase1 · candelas
- Commodities
- lithium
Top-20 register and substantial holders (local ownership file, register 19 Sep 2025)Governance · LowMetadata Only
Local ownership file: older register (19 Sep 2025, 1,057,859,633 shares); superseded for the top-20 by the FY26 Annual Report shareholder table dated 22 Sep 2026.
- Document ID
- ownership_register_local
- Published UTC
- 2025-09-19T00:00:00Z
- Projects
- —
- Commodities
- lithium
Becoming a substantial holderGovernance · LowExtracted
Substantial holder notice, September 2025.
- Document ID
- bsh2025
- Published UTC
- 2025-09-03T06:09:30Z
- Projects
- —
- Commodities
- lithium
A$20 Million Placement to Strategic Partner (Clean Elements)Financing · HighExtracted
A$20m placement to Clean Elements Fund at A$0.11 with attached options; funds Phase 1 construction in two tranches.
- Document ID
- cleanel2025
- Published UTC
- 2025-06-19T23:27:52Z
- Projects
- hmw_phase1
- Commodities
- lithium
HMW Phase 1 Funding and Offtake Secured with US Based PartnerEconomic Arrangement · HighExtracted
Definitive Authium agreements: nano-filtration plant funded by Authium, 45 kt LCE lithium chloride offtake over 6-12 years, US$6m prepayment facility.
- Document ID
- auth2025
- Published UTC
- 2025-04-15T23:46:27Z
- Projects
- hmw_phase1
- Commodities
- lithium
Capital Raising Presentation, April 2025 (Authium transaction, Phase 1 and Phase 2 DFS economics)Presentation · HighPartial
Presentation with Phase 1 DFS (post-tax NPV8 US$460m, IRR 36%) and Phase 2 DFS (NPV8 US$2bn, IRR 43%); Authium terms; opex US$3,963/t reduced to US$3,263/t LCE; A$41.5m capex removed.
- Document ID
- crp2025
- Published UTC
- 2025-04-16T00:21:37Z
- Projects
- hmw_phase1 · hmw_phase2
- Commodities
- lithium
Galan's Mineral Resources grow to 9.5 Mt LCEResource Update · HighExtracted
Resource statement for HMW and Candelas (January 2025): 9.5 Mt LCE total, 80% measured and indicated.
- Document ID
- res2025
- Published UTC
- 2025-01-28T22:10:21Z
- Projects
- hmw_phase1 · candelas
- Commodities
- lithium
Capital Raising Presentation, September 2024Presentation · MediumExtracted
Earlier presentation: Phase 1 capex US$104m (DFS) and Phase 2 capex US$278m, DFS NPV references, market-cap versus NPV comparison.
- Document ID
- crp2024
- Published UTC
- 2024-09-10T00:52:41Z
- Projects
- hmw_phase1 · hmw_phase2
- Commodities
- lithium
Conflicts requiring judgment1
- undrawn_facilities
Appendix 5B section 7 reports nil financing facilities at 30 September 2026. The FY26 report and the September quarter narrative describe an Authium prepayment of up to US$6m that is nil drawn and conditional on processing, so it is recorded as a gap in liquidity, not as an undrawn facility.