Quarterly Activities Report September 2026
Expansion earthworks have started, and the existing nanofiltration plant can support the planned higher production rate without modifications.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Galan Lithium (GLNLF) expects first lithium chloride concentrate sales from Hombre Muerto West in Argentina in Q4 CY2026 as ramp-up continues. The company targets initial throughput of 4,000 tonnes per year of lithium carbonate equivalent (LCE) in the first half of 2027. Earthworks have begun to expand capacity to 5,200 tonnes per year, with higher volumes expected in the second half of 2027; no nanofiltration plant modifications are required.
Severe winter weather caused minor operating suspensions. Galan holds construction permits for Phase 2 capacity of 21,000 tonnes per year of LCE. At 30 September 2026, cash was A$25 million, with no debt drawn. A government-co-funded gravity survey at Greenbushes South is scheduled for November 2026, with processed results expected in Q1 2027. Daniel Jimenez succeeded Richard Homsany as non-executive chairman on 1 October 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.HMW first lithium chloride concentrate sales remain on track for Q4 CY2026, Galan expects.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Initial HMW throughput is targeted at 4 ktpa LCE in the first half of 2027.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Expansion earthworks began for 5.2 ktpa LCE; higher volumes are expected in the second half of 2027.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Phase 2 construction permits cover 21 ktpa LCE; Galan plans four-phase growth up to 60 ktpa LCE.
- Minor point. Forward-looking: it has not happened yet and may not happen.Existing nanofiltration plant supports expanded production with no plant modifications required.
5 minor points
- Minor pointNanofiltration recorded 98% or greater sulphate rejection over more than three months of operational data.
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional pressure vessel capacity is planned to improve resilience through future winters.
- Minor point. Forward-looking: it has not happened yet and may not happen.Greenbushes South gravity survey is government-co-funded, scheduled for November 2026, with results expected in Q1 2027.
- Minor pointClosing cash was A$25 million at 30 September 2026, with no debt drawn.
- Minor pointDirector on-market purchases comprised 3.0 million shares by Amir, 2.3 million by Vargas de la Vega and 0.2 million by Jimenez.
Negative
- Minor pointSevere winter conditions caused minor periods of operating suspension at HMW.
- Minor pointRelated-party payments totalled approximately $0.423 million during the quarter for salary, director fees and professional fees.
News Explained
Process data show at least ninety-eight percent sulphate rejection over more than three months, supporting HMW’s targeted six percent lithium-content concentrate.
Galan’s September-quarter report records on-market share purchases by Ofer Amir (
At Hombre Muerto West, nanofiltration removes impurities from brine before further concentration.
The plant has recorded more than three months of operating data with sulphate rejection of
AI-generated analysis. How Rhea-AI works. Not financial advice.
PERTH, AU / ACCESS Newswire / October 29, 2026 / Galan Lithium Limited (Galan or the Company) presents its Quarterly Activities Report for the quarter ended 30 September 2026, along with activities up to the date of this release.
Figure 1. HMW operation looking north.
The September 2026 quarter saw Galan progress the ramp-up of its Phase 1 operations at Hombre Muerto West (HMW) in Catamarca Province, Argentina, with the Company remaining on track to deliver first lithium chloride (LiCl) concentrate sales in Q4 CY2026. The quarter also saw the commencement of earthworks associated with the expansion of Phase 1 production capacity from 4 ktpa to 5.2 ktpa LCE.
Juan Pablo (JP) Vargas de la Vega, Managing Director commented:
"The September quarter has been one of steady operational progress at Hombre Muerto West. We have maintained safe and reliable operations through one of the most severe winters on record in the Puna region. With warmer conditions now approaching, we remain confident in delivering first LiCl concentrate sales in Q4 CY2026 and in reaching our initial 4 ktpa throughput target in the first half of 2027. The commencement of earthworks on the 5.2 ktpa expansion is a further positive step as we move into the next phase of production growth. Underpinning this progress is HMW's position as a low-cost brine operation in the first quartile of the global cost curve, which remains a defining structural advantage for Galan as we move toward first sales."
Project Execution - Hombre Muerto West (HMW)
Figure 2. Halite Ponds 1-3 (centre), nanofiltration plant (bottom left) and final concentration ponds (bottom right).
The ramp-up of the HMW Phase 1 operation continued to progress during the quarter, with the productivity of the nanofiltration plant keeping pace with current site evaporation rates. The nanofiltration plant, which removes impurities from the HMW brine ahead of further concentration, has recorded over 3 months of operational data with a
First LiCl concentrate sales from HMW Phase 1 remain on track for delivery in Q4 CY2026. Galan is confident that, as the plant transitions into warmer seasonal conditions over the coming months, the initial targeted throughput rate of 4 ktpa LCE will be achieved in the first half of calendar year 2027.
The Puna region in the Andes, where HMW is located, has endured one of the most severe winter periods in recent history with significant snowfall and wind. Notwithstanding these conditions, HMW operations continued safely with only minor periods where operations were suspended. To provide greater operational resiliency through future winters, additional pressure vessel capacity is planned to be constructed and mobilised to site, augmenting the existing Phase 1 plant capacity.
Figure 3. Earthworks for pond expansion to 5ktpa LCE underway at HMW.
Earthworks associated with the expansion of Phase 1 HMW to 5.2 ktpa LCE have commenced at site. The nanofiltration plant has been designed with the flexibility to support this expanded rate of production, so no associated plant modifications will be required. The higher production volumes are expected to be realised in the second half of calendar year 2027.
Galan continues to hold construction permits for Phase 2 (21 ktpa LCE) and plans for a staged, low-risk production growth pathway across four phases to up to 60 ktpa LCE. The scale and quality of the HMW resource, a top-10 global lithium resource by contained LCE, underpins the long-term production potential of the project as a significant supplier into the global lithium market.
Greenbushes South (WA)
During the period Galan made preparations for the helicopter-borne gravity survey over its Greenbushes South tenements, which is scheduled for November 2026. The survey is co-funded through the WA Government's Exploration Incentive Scheme (EIS). Its objective is to map the Donnybrook-Bridgetown Shear Zone, specifically the host rocks to the lithium-bearing pegmatites at Greenbushes, giving Galan a structural framework for targeting any similar pegmatite-hosted lithium lenses within its tenements. Final processed data and interpretations are expected in Q1 2027. The new geophysical data, together with existing and new surface geochemical sampling and a planned follow-up ground gravity survey, will be used to define a drilling campaign where warranted.
Corporate
In the quarter the Company lodged Appendix 3Y notices disclosing on-market purchases of GLN shares by directors. Non-Executive Director Ofer Amir acquired 3.0 million shares, Managing Director Juan Pablo Vargas de la Vega acquired 2.3 million and Non-Executive Director (now Chairman) Daniel Jimenez acquired 0.2 million shares.
On 1 October 2026, Galan announced that Non-Executive Chairman Richard Homsany had resigned from the Board with Non-Executive Director Mr Daniel Jimenez assuming the role of Non-Executive Chairman. The Board thanks Mr Homsany for his significant contribution to Galan and wishes him well as the Company moves into its next phase of growth as a lithium producer.
Financial Position
Cash outflows during the September 2026 quarter were primarily directed to the ramp-up of HMW Phase 1 operations, the commencement of earthworks on the 5.2 ktpa expansion and corporate overheads.
The closing cash balance as at 30 September 2026 was A
Payments to related parties during the quarter totalled approximately
The Galan Board has authorised the release of this September 2026 Quarterly Activities Report.
For further information contact:
| COMPANY Juan Pablo ("JP") Vargas de la Vega Managing Director jp@galanlithium.com.au + 61 8 9214 2150 | MEDIA Matt Worner Vector Advisors mworner@vectoradvisors.au +61 429 522 924 |
About Galan
Galan Lithium Limited (ASX:GLN) is an ASX-listed lithium exploration and development business. Galan's flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto Salar in Argentina, within South America's ‘lithium triangle'. Galan is distinguished by:
- The size of its mineral resource. HMW is placed within the top 10 producing or development lithium projects globally,1
- The purity of its mineral resource. The HMW mineral resource has the lowest impurity profile of any published lithium brine resource in Argentina,
- Positioning on the cost curve. When in production, HMW is profiled to be in the first quartile of the industry cost curve,2
- Near term production with permitted expansion. Galan is on track for first lithium chloride production in 2026 and has the construction permits to expand HMW to 21 ktpa LCE,
- The RIGI. The RIGI is a large-scale investment framework in Argentina which provides income tax benefits, 30 years of fiscal stability and a range of other financial benefits, and
- Exploration licences at Greenbushes South in Western Australia, close to and just south of the Tier 1 Greenbushes Lithium Mine.
1 S&P Global Metals & Mining.
2 Wood Mackenzie, iLi Markets
SOURCE: Galan Lithium Limited
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Galan Lithium expect first sales from Hombre Muerto West?
Galan expects first lithium chloride concentrate sales from HMW Phase 1 in Q4 CY2026. Its initial throughput target is 4 ktpa LCE, meaning 4,000 tonnes per year of lithium carbonate equivalent, in the first half of 2027.
What is Galan Lithium's Hombre Muerto West expansion timeline?
Galan expects higher production volumes from the expansion to 5.2 ktpa LCE in the second half of 2027. Earthworks have commenced, and the nanofiltration plant was designed to support that production rate without modifications.
How will Galan Lithium use the Greenbushes South gravity survey?
The survey will map the Donnybrook-Bridgetown Shear Zone to help target potential lithium-bearing pegmatites within Galan's tenements. The company plans to combine the data with surface geochemical sampling and a follow-up ground gravity survey to define a drilling campaign where warranted.