Hi Moorookamick. I thought touring Europe might have changed your outlook on life a little and made you a little more cheerful and positive. Ah well...
There doesn't have to be 'new' news to explain a rise in a share price. Galaxy has simply been battered by macroeconomic conditions and market sentiment over the past year. Is the company in a much worse position now than 12 months ago? No. Every day that has passed has been a day of progress for GXY as it marches on to completion of the Jiangsu plant - some achievement.
Considering the scale of Galaxy's operations and the size of the potential market, a market cap of $232m appears totally inadequate. The Chinese economy continues to grow and its people's demand for personal transport does likewise. Galaxy are ahead of the future competition. The share placing does not seem to be such a bad bit of business now as it once did. The off-take agreements look like great future business...plenty of volume already guarenteed :-)
Plenty of news expected over the coming weeks. Positive times.
Good luck all
GXY Price at posting:
27.0¢ Sentiment: LT Buy Disclosure: Not Held
