Core Viewpoint - Galan Lithium Limited has successfully completed all conditions for a $20 million share placement to the Clean Elements Fund, enabling the company to proceed with the construction of the Hombre Muerto West (HMW) lithium project, with first production expected in H1 2026 [1][3][9]. Funding and Placement Details - The $20 million placement was executed at a significant premium to the prevailing share price and required shareholder approvals, which were obtained on August 22, 2025 [2][4]. - The settlement of the placement will occur in two equal tranches of $10 million, with the first tranche expected within the next 5 business days and the second tranche no later than November 22, 2025 [4]. Project Development and Production Timeline - The funding from the placement will allow Galan to finalize the HMW Phase 1 construction throughout 2025, targeting first production of lithium chloride concentrate in the first half of 2026 [3][9]. - The HMW project is positioned to produce 4,000 tons per annum (4ktpa) of lithium carbonate equivalent (LCE) [9]. Project Quality and Competitive Position - Due diligence by Clean Elements Fund has confirmed HMW as a world-class lithium project, noted for its exceptional scale and grade, with the highest lithium grades in Argentina and a low impurity profile [5][7][9]. - The project's brine quality allows for a low-cost evaporation process, positioning Galan as a high-margin, globally competitive lithium producer [7][8].