- Galan’s Candelas Project comprises 14 exploration permits covering over 24,000 hectares hosted within an approximately 15km long by 3-4km wide structurally controlled basin. The Candelas Project is supported by a full Preliminary Economic Assessment and a JORC 2012 Resource and lies approximately 40 km ESE of the HMW Project. Candelas is located in the Puna geological province and approximately 170 km west-southwest of the city of Salta.
- Candelas has no third-party royalties attached to it and has a readily accessible reverse osmosis water source, meaning that no river water will be required.
- The Candelas project will be incorporated into Phase 4 of the revised 60ktpa production plan.
2021 Preliminary Economic Assessment Highlights
- Low-risk, proven process technology (similar to proximate Hombre Muerto West Project)
- Expected 14 ktpa Li2CO3 over +25 year life1
- Unlevered pre-tax NPV8% of US$1,225M
- IRR of 27.9% with 4 year payback period
- Significant potential cost synergies and value enhancements available from integrated development with HMW Project; not currently incorporated in PEA forecasts
Mineral Resource Statement for Candelas, March 20242*
(Inclusive of Ore Reserves)
Galan Lithium Total Resource Estimate, March 20243*
