Galan Lithium Grabs an 80% Stake in New Job, Share Rate Rise 10.5%

2021 has picked up appropriate exactly where 2020 still left off for lithium miners.

The sector is undeniably in the midst of a purple patch. With some of the huge names delivering even bigger returns.

But, not to be outdone, the compact-cap lithium miners aren’t much guiding either. With Galan Lithium Ltd [ASX:GLN] proving that point these days. Observing a 10.5% rise in its share rate thanks to a clean acquisition.

All-in on a promising venture

Galan verified this morning that it has acquired an 80% stake in the Greenbushes South undertaking. Securing the deal via an settlement with their new husband or wife Lithium Australia NL [ASX:LIT].

Collectively, the duo has ideas to scope out the website. With a preliminary feasibility research (PFS) currently on the playing cards. Including a motivation from Galan to entirely fund all expenditure until eventually said study is full.

So, it’s crystal clear that they’re hoping for a excellent final result, and the probability to produce this internet site in future.

As Managing Director Juan Pablo Vargas de la Vega notes:

‘We are delighted to receive a major the greater part stake in a really prospective lithium project in a earth-renowned lithium district and boost our current lithium exploration floor at Greenbushes in Western Australia.

‘We have secured an outstanding exploration possibility in Western Australia to insert to our existing portfolio of belongings in Argentina that have a probable production profile. We will carry on to discovering this tenure in a methodological stage-by-move fashion and development tenement applications to grant. We are happy to joint undertaking with Lithium Australia NL and glance ahead to updating the industry with our developments in because of class.’

It will absolutely make for an exciting prospect. After all over again highlighting the bustling lithium sector at the second.

What’s future for Galan?

Shifting forward, the quick aim for Galan is definitely to shut this offer. Which they should not have as well much hassle performing, we think about.

From there, Galan and LIT will need to work jointly on finalising their plans for the PFS. Work that could come to a decision irrespective of whether or not the job progresses beyond just the exploration stage.

And with the sector for lithium functioning scorching, they will want to act speedily to consider and capitalise. Possibly racing from the clock to get this mine up and operating.

But it absolutely presents a fascinating option for buyers.

Nevertheless, if you’re hunting for extra quick lithium investments, we’d suggest most likely hunting elsewhere. With loads of choices out there to investors suitable now.

In simple fact, we’ve put alongside one another an total report on some of our favourites. Which includes a few lithium inventory picks that might be primed for a large 2021.

Get your free copy of this report, which includes the 3 stocks, correct below.

Regards,

Ryan Clarkson-Ledward,
For Revenue Early morning