viewGalan 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: 0.155 AUD

Market: ASX
Market Cap: $25.53 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Havilah Resources' Chris Giles recaps on encouraging drill results and REE...

Havilah Resources Ltd's (ASX:HAV) Chris Giles speaks to Proactive's Andrew Scott following the release of its quarterly activities report. He says the clear highlight for them in the period was the aircore drilling results from West Kalkaroo which included 20 metres of 6.3 g/t gold in the...

33 minutes ago

2 min read