Galan Lithium

Galan Lithium Limited (ASX: GLN) – Trading Halt

Description

The securities of Galan Lithium Limited (‘GLN’) will be placed in trading halt at the request of GLN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 10 September 2024 or when the announcement is released to the market.


Issued by

ASX Compliance


Click here for the full ASX Release

This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

GLN:AU
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Galan Lithium Managing Director Juan Pablo Vargas de la Vega.

Offtake Deal with Chemphys Signals Strong Future for Lithium, Galan Lithium Exec Says

On the heels of a new memorandum of understanding (MOU) for a potential offtake deal, Galan Lithium (ASX:GLN) Managing Director Juan Pablo Vargas de la Vega has expressed confidence in a “very strong” future for lithium.

On August 26, Galan signed an MOU with Chinese battery producer Chengdu Chemphys Chemical Industry for an offtake prepayment agreement. Once a definitive deal is reached, Chemphys will purchase a total of 23,000 tonnes of lithium carbonate equivalent, as a lithium chloride product, over the first five years of Phase 1 production from Galan’s Hombre Muerto West project in Argentina. The Chinese firm will also provide Galan with a prepayment facility of US$40 million for the offtake.

“It tells you that the long-term future for lithium and the lithium battery revolution that we are seeing is very strong,” de la Vega told the Investing News Network.

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Arcadium Halts Mount Cattlin Expansion, Plans Transition to Care and Maintenance

Arcadium Lithium (NYSE:ALTM,ASX:LTM) announced on Wednesday (September 4) that it will place its Mount Cattlin spodumene operation in Western Australia on care and maintenance by mid-2025.

The company said in a press release that it will halt Stage 4A waste stripping, as well as any expansionary investment beyond Stage 3 following a sustained drop in spodumene prices.

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5 Best-performing Lithium Stocks of 2024

As the market moves into the second half of year, the lithium sector has continued to experience challenges.

However, after 2023's broad fluctuations, the lithium sector exhibited greater stability in the first half of 2024.

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Lancaster Resources Announces Departure of Director

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Chariot Corporation

Chariot Corporation Limited (ASX: CC9) – Trading Halt

Description

The securities of Chariot Corporation Limited (‘CC9’) will be placed in trading halt at the request of CC9, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 4 September 2024 or when the announcement is released to the market.

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Galan Lithium

Galan Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

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