Ann: Galan Signs Pivotal Commercial Agreement with Catamarca Govt, page-172

It's great to see the support from the Catamarca government, and I totally understand JP's frustration regarding the export permit, as it opens up many financial opportunities for the company. This is another significant step forward, and we are edging closer to production. Building a positive relationship with the local government is crucial for any company's success.

I have to admit that the lack of experience of funding a project has caused a major issue, reflected in the recent market reaction to our share price. The lesson that I have learned here is to borrow the money as much as you can whenever possible, since no one will lend you the money when you actually need it.

It wouldn't be surprising if lithium prices were to be limited to around $13,000 USD in the next year or two as the boom slows down. Galan is still expected to be among the few companies that can remain profitable (*if they can get the funding), while companies like CXO may need to halt operations until prices recover. However, I still believe that DJ should have no trouble securing funding for Galan.:

· The automotive industry now reached nearly 10% of China’s GDP and the government has shifted the focus from real estate to automotive

· From 1 Jan 2024, China reduced the import tariffs on resources, key equipment and parts that are in short supply domestically, such as lithium chloride, low-arsenic fluorite and gas diffusion layers for fuel cells. https://www.globaltimes.cn/page/202401/1304604.shtml

· Over 70% of the lithium in China was imported from overseas, and the consumption is massive even with the slowing demand

It will be interesting to see what unfolds over the next few weeks. I expect we will have the answers very shortly.