closest to the pin c/r, page-29

With the outcome of the initial subscription at under $15M, this was a little lower than my prediction of around $20M.
Listening to GXY management (and recent updates) the initial raising from the major shareholders was expected
to total around 10 and later about $12M.
Therefore the amount raised from other 'retail' investors only totalled a paltry ~$2-3M (surprising to me especially given the roadshows).
Maybe this does not surprise others, and I understand people's reluctance to throw in further cash.

Aside from this it looks a fair bit more will be coming in from shortfalls and other institutions (although I don't believe they will hit the full 46M):

http://www.proactiveinvestors.com.au/companies/news/46466/galaxy-resources-raises-a1468m-from-entitlement-offer-46466.html

Certainly now looks like will be up and running next Monday. Expect to see further announcements before then regarding further shortfall/ institutional investor takeups and details of the new board structure.

Thoughts/comments?

MV