EnergyX has confirmed recent reports regarding a preliminary offer to acquire the Argentinian assets of Galan Lithium.
“We believe Galan has excellent resources in Argentina, and that our advanced LiTAS DLE technology platform would further enhance and accelerate production of battery-grade lithium from these resources,” said the American energy tech company.
“While the offer’s terms and conditions have not been finalized, we are excited about the potential discussions and hopeful the Galan management team will accept our offer in the best interest of their shareholders.”
EnergyX said the undisclosed offer “was a substantial premium to Galan’s current trading share price.”
If an agreement is reached, EnergyX will have the ability to unlock substantial value above and beyond that of Galan’s current plans and projections that use evaporation pond methodologies.
Galan’s flagship assets comprise two 100% owned, world-class lithium brine projects, Hombre Muerto West and Candelas, located on the Hombre Muerto salar in Argentina.
Source: EnergyX