Galan Lithium (ASX: GLN) managing director Juan Pablo Vargas de la Vega joins Small Caps to discuss to recent signing of significant offtake agreement with global mining giant Glencore for its Hombre Muerto West (HMW) project in Argentina.

The binding offtake deal is for lithium chloride and/or lithium carbonate from Phase 1 production at HMW.

Notably, Glencore has also offered to potential provide Galan with a $107 million to $151 million in support of a financing prepayment facility for the project.

Galan considers the Glencore agreement as a validation of the world class quality of the HMW project.

The company has already commenced construction of the Phase 1 development at HMW and remains on track for first pond fill in Q1 2024 and to achieve initial production in the first half of 2025.

At the same time, Galan is continuing to advance discussions for the development of Phase 2 at HMW.

Article:
https://smallcaps.com.au/galan-lithium-secures-offtake-financing-deal-glencore-hombre-muerto-west/

For more information on Galan Lithium:
https://smallcaps.com.au/stocks/asx-gln/

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