re: Ann: Capital Raising and Project Funding ...
Nice to see GXY holding up over the 50c mark this afternoon after the placement announcement.
State One have consistently backed GXY from the initial IPO and obviously happy to increase their stake.
Good aproach to funding the project IMHO. GXY now has a solid financial footing to progress the Lithium Plant... this is very good news for every shareholder. Mr Tan said that the proposed strategy will minimise further dilution of Galaxy shares, allowing full funding of the lithium project whilst allowing Galaxy to maintain control of the project and the company. “If this strategy is successful, it will be a very good outcome for our shareholders”.
GXY Price at posting:
17.1¢ Sentiment: Buy Disclosure: Held