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Galan Lithium Limited ( (AU:GLN) ) has provided an update.
Galan Lithium has completed Phase 1 construction at its 100% owned Hombre Muerto West project in Argentina, installing all major processing infrastructure including a nanofiltration plant and evaporation ponds. The project is now moving into testing and commissioning as the company prepares to transition from lithium developer to producer.
Initial production is set to start at an annualised rate of 4,000 tonnes per annum of lithium carbonate equivalent, with work to expand Phase 1 capacity to 5,200 tonnes per annum and further staged growth planned toward 60,000 tonnes per annum over four phases. With around 10,000 tonnes LCE of brine inventory ready for processing and permits secured for a larger Phase 2, Galan is positioning Hombre Muerto West as a scalable, long-term supplier to the global lithium market.
The most recent analyst rating on (AU:GLN) stock is a Hold with a A$0.36 price target. To see the full list of analyst forecasts on Galan Lithium Limited stock, see the AU:GLN Stock Forecast page.
More about Galan Lithium Limited
Galan Lithium Limited is an Australian-listed lithium company focused on developing brine-based lithium projects in Argentina’s Catamarca Province, within the globally significant lithium triangle. Its flagship Hombre Muerto West project aims to produce lithium chloride concentrate for the global battery and electric vehicle supply chain.
Average Trading Volume: 5,553,112
Technical Sentiment Signal: Buy
Current Market Cap: A$427.5M
See more insights into GLN stock on TipRanks’ Stock Analysis page.