Some say it *is* ridiculously priced. The stock was at $0.024 four months ago. And why would they dilute shareholders? Simply because they need money in order to develop SdV! And BTW, the last massive raising they did was at 8c. So there is absolutely no reason to refrain from another raising at twice that price.
There is no partnership with GMM re SdV at all. And the Argentinian Peso's devaluation may lower Capex a few, very few percent but it doesn't help much with Galaxy's need for a massive cash infusion and JV partner. Sales de Jujuy can be seen as an example how to proceed. And BTW, it also is a prime example of how shareholders' expectations are disappointed by reality. Putting together a few slides re how bright the future is and how quickly the company will be in production is one thing. Actually DOING it out there in the Andes is something different altogether. Does Jiangsu ring a bell? Disappointment is the result of overblown expectations. And I do see heaps of massively overblown expectations here.
The fact are these:
1) Galaxy needs cash to develop SdV.
2) Canaccord has indicated they expect Galaxy to raise money.
Regardless of whether or not some HC posters agree. Facts prevail. You'll see.
