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Galan Lithium reveals third director share increase this month

Proactive Investors Tuesday, 21 August 2018
Galan Lithium Ltd (ASX:GLN) has revealed that managing director Juan Pablo Vargas de la Vega has increased his shareholding in the company through on-market purchases. The change of director’s interest notice disclosure is the third of its kind this month. Vargas de la Vega acquired 17,241 shares increasing his total holding in Galan to 6.84 million shares. READ: Galan Lithium to survey shallow brines at Argentine lithium project Galan recently commenced a new round of geophysical surveys aimed at extending brine units at its Salar de Hombre Muerto Lithium Project in Argentina’s Catamarca Province. The work will consist of controlled source audio-frequency magnetotellurics (CSAMT) resistivity surveys which will add to the results of earlier surveys conducted along the Candelas channel. Salar is in the world-class ‘lithium triangle’ region of Argentina, adjacent to projects operated by Galaxy Resources Ltd (ASX:GXY) and FMC Lithium Corp (NYSE:FMC). Recent name change from Dempsey Minerals Ltd Earlier this month Galan Lithium changed its name and ticker code from Dempsey Minerals Ltd (ASX:DMI). The name change came about after the company’s recent Blue Sky acquisition in June 2018 which resulted in the company refocusing as a lithium explorer and developer in Argentina. Blue Sky is the owner of the rights, interests and title to the Hombre Muerto mining tenements. The project is located within the South American Lithium Triangle in the Hombre Muerto Basin, one of the most important and prolific salt flats in Argentina and indeed the world. Juan Pablo Vargas de la Vega appointed following acquisition Vargas de la Vega was appointed to the company’s board along with Jinyu Liu upon completion of the Blue Sky acquisition. Vargas de la Vega is a Chilean/Australian mineral industry professional with 15 years broad experience in ASX mining companies, stockbroking and private equity firms. He has been a specialist lithium analyst in Australia and has operated a private copper business in Chile and also worked for BHP, Rio Tinto and Codelco.

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