viewGalan Lithium Ltd

Galan Lithium director shows confidence in lithium strategy with on-market purchase

Terry Gardiner has today acquired 100,000 shares and now holds almost 5.196 million in direct and indirect interests.

Increasingly high stacks of coins
The company is focused on lithium in Argentina

Galan Lithium Ltd (ASX:GLN) director Terry Gardiner has demonstrated his faith in the company’s emerging lithium strategy by purchasing shares on-market.

The non-executive director has today paid more than $22,000 for a further 100,000 shares in the company which is focused on projects in a prolific lithium region of Argentina.

He now holds almost 1.431 million shares in direct interest with a further 3.765 million in two indirect interests.

Shares up almost 11%

Shares in Galan Lithium are up almost 11% today to 26 cents.

This represents a positive change after the stocks have decreased from 61.5 cents since March 4.

However, volume has been strong since March 11 with more than 23 million traded in the period.

READ: Galan Lithium confirms high lithium grade at Candelas; second drill hole underway

Last month, the company confirmed thick, high-grade lithium-bearing brines from a maiden drill hole at the Candelas Lithium Brine Project in Hombre Muerto, Argentina.

The hole encountered a substantial 119-metre intercept of brine from a depth of 235 metres.

READ: Galan Lithium’s preliminary field tests indicate aquifer potential at Candelas Lithium Brine Project

Since then preliminary test results indicate the potential for a lithium-bearing aquifer at the project.

Galan is greatly encouraged by this initial success and aims to fast-track exploration at Candelas with the goal of targeting a resource as soon as practicable.

Quick facts: Galan Lithium Ltd

Price: 0.2275 AUD

Market: ASX
Market Cap: $36.25 m

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