stringtickler,Thank You for taking the time to talk to Andrew...

stringtickler,

Thank You for taking the time to talk to Andrew Meloncelli and that answers some questions.

Some are still unanswered---
(1) In the 'Galaxy Funding Update' announced on 15/2/2010,GXY mentioned China Development Bank and security arrangements--These issues remain unanswered,

(2) 'The Gaxaxy Funding Update' did not state that Creat Group Company Ltd was underwriting the placement of 283,333,333 shares in CRHL at 6c to pay for the remaining shares in GXY to take their holding to 19.99% and pay GXY $27.5 Million-------I will check with the CRHL website and find out what CRHL have told their shareholders in respect of this issue(Creat Group underwriting the placement is news to me).

Ok,we now know that the loan facitity agreement is not signed and that some of the terms of the agreement have not been agreed upon----there is no current completed loan facility agreement at this point in time,but maybe shortly.

We all look forward to a further announcement soon,and hopefully,in the positive.Let's see what money GXY actually receive in April,2010,as per their guidance.

I've kept word documents in relation to Andrew Melocelli's remarks and will refer to them in April,sometime.

Thanks again,stringtickler.

Cheers