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Galan Lithium Limited (ASX:GLN)

ALERT: Price-sensitive ASX Announcement for GLN
Current share price for GLN : $0.295 -0.175 (-37.23%)+
Announcement
Release
29 Jan 2026 9:32AM
Price at Release
$0.470
Full Release
download
Summary
Galan Lithium Limited has announced a successful completion of a $40 million institutional placement aimed at supporting a 30% expansion of its Phase 1 Hombre Muerto West (HMW) lithium project. The placement was well-received, attracting support from substantial shareholders and global investors, at a 2% premium to the 5-day VWAP. An additional commitment of $1 million from Galan's Directors is subject to shareholder approval. The capital will be allocated to increase production capacity from 4 ktpa LCE to 5.2 ktpa LCE, continue exploration at Greenbushes South, and for working capital. The expansion aligns with rising lithium prices and aims to achieve operational efficiency by leveraging cost savings. First production of lithium chloride concentrate is targeted for early 2026.
Key Points
  • Galan has secured $40 million through an institutional placement at $0.41 per share.
  • The placement was supported by Clean Elements and international investors.
  • Directors committed an extra $1 million pending shareholder approval.
  • Funds will expand HMW production from 4 ktpa to 5.2 ktpa LCE.
  • First production is targeted for the first half of 2026.
  • The placement reflects investor confidence in the rising lithium market.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.