{"id":4102,"date":"2024-01-09T01:04:25","date_gmt":"2024-01-09T01:04:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=4102"},"modified":"2024-01-09T01:04:25","modified_gmt":"2024-01-09T01:04:25","slug":"more-building-blocks-falling-into-place-at-galan-lithiums-hombre-muerto-west-project-in-argentina","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4102","title":{"rendered":"More building blocks falling into place at Galan Lithium\u2019s Hombre Muerto West project in Argentina"},"content":{"rendered":"<p>Earthworks at Pond 1 of Galan\u2019s HMW lithium brine project in Argentina almost complete, with liners now being installed<br \/>\nLithium chloride from the first of four production phases remains on track for H1 2025<br \/>\nGlencore preparing for due diligence site visit as part of lucrative US$100 million funding and offtake deal<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Galan Lithium has ticked off another key milestone as it continues its quest to become Argentina\u2019s next lithium producer early next year.<\/strong><\/p>\n<p>Construction activities are progressing to schedule at <a href=\"https:\/\/stockhead.com.au\/company\/galan-lithium-gln\/\"><strong>Galan Lithium\u2019s (ASX:GLN)<\/strong><\/a> flagship Hombre Muerto West (HMW) lithium brine project where first lithium chloride production is expected in H1 2025.<\/p>\n<p>The liners for Pond 1 are now being installed as earthworks near completion. This means Pond 1 remains on track to be filled later this quarter and the evaporation process can begin during the upcoming Argentine summer.<\/p>\n<p>GLN managing director Juan Pablo Vargas de la Vega said this was a crucial first major step in the project\u2019s long-term production schedule.<\/p>\n<p>\u201cThe commencement of the installation of liners for Pond 1 is another tick in the box for the HMW Phase 1 construction team,\u201d he said.<\/p>\n<p>\u201cThe team continues to push forward on all fronts as it aims to validate GLN\u2019s low-cost, low-risk lithium chloride development strategy to become the next lithium producer in Argentina in H1 2025.\u201d<\/p>\n<p>The first liners are being installed at Pond 1. Source: GLN<\/p>\n<p>\u00a0<\/p>\n<h2>Pond 2 is also taking shape<\/h2>\n<p>GLN has already started construction of Pond 2 with earthworks 10% complete. Nine production wells have also been built, with only six required for Phase 1 production at the HMW project.<\/p>\n<p>A total of 23 production wells are required for Phases 1 and 2.<\/p>\n<p>Production from HMW will be delivered across four separate phases, beginning with 5.4ktpa LCE of lithium chloride concentrate from H1 2025, as governed by the approved production permits.<\/p>\n<p>Phase 2 is targeting 21ktpa LCE of lithium chloride concentrate from 2026, followed by Phase 3 production of 40ktpa LCE by 2028. The fourth and final phase will include lithium brine sourced from both HMW and GLN\u2019s 100%-owned Candelas project, also in Argentina.<\/p>\n<p>Construction of Pond 1 is almost complete at HMW. Source: GLN<\/p>\n<p>\u00a0<\/p>\n<h2>Glencore preparing for site visit<\/h2>\n<p>HMW is considered a Tier-1 project capable of producing a \u201cpremium\u201d high-grade lithium chloride concentrate of 6% Li. That is comparable to 13% Li2O or 32% LCE.<\/p>\n<p>The low-cost economics of the project has already caught the attention of global conglomerate Glencore which has agreed to purchase up to 100% of the proposed lithium chloride production from Phase 1, as well as provide up to US$100 million of development finance.<\/p>\n<p>Glencore representatives are set to undertake a site visit in the near term as part of its due diligence.<\/p>\n<p>Capex for Phase 1 at HMW is estimated at just US$104 million with payback achieved inside two years. The first phase of operations is forecast to deliver post-tax NPV of US$460 million and IRR of 36%, as well as free cash flow of US$54 million per annum.<\/p>\n<p>Pic: Supplied<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Galan Lithium, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/more-building-blocks-falling-into-place-at-galan-lithiums-hombre-muerto-west-project-in-argentina\/\">More building blocks falling into place at Galan Lithium\u2019s Hombre Muerto West project in Argentina<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Earthworks at Pond 1 of Galan\u2019s HMW lithium brine project in Argentina almost complete, with liners now being installed Lithium chloride from the first of <a href=\"https:\/\/economicherald.net\/?p=4102\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4103,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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