Galan Lithium Limited (AU:GLN) has released an update.
Galan Lithium Limited is set to bolster its financial position with a capital raise of up to A$25 million, which includes a A$12 million commitment from investors for new shares priced at A$0.105 and a potential A$4.5 million investment from future offtake partner Chemphys. The funds are aimed towards advancing the HMW project, with a focus on a lower capital intensity development plan to commence production in the second half of 2025, despite current market challenges.
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