Let me start by re-iterating that I'm in full support of GXY and it's operations.
However, if the current placement of 100m shares @ 54c is in fact correct then in this instance I believe Management have erred as the placement price is far too cheap - try acquiring 100m shares on market in a short time frame without nudging the share price up.
The broker in charge of this raising ,Cannacord, suggested a share price target of 80c only a couple of weeks ago and now see fit to make a placement at a 30%+ discount - easy money for the them for making a couple of phone calls to insto's and mates.
If what has been reported is correct then it is disappointing - share holders would have lapped up these shares via a SPP in a flash IMO.
Let's see what is next !
- Forums
- ASX - By Stock
- GXY
- Galaxy Resources dilution or not?
Galaxy Resources dilution or not?, page-14
-
- There are more pages in this discussion • 210 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GXY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online