AGM, page-126

I used DMP as an example but closer to home is FMG. Yes they have lots of shares with good income. Shorters play with it constantly and very hard for their SP to grow unless outlook is superb. High or low quantity, high value or low value the shorters will play regardless so long as they see money to be made. Anyway who shorts? Only the professionals or well educated investors! DMP dropped $20 so no small amounts involved.
A consolidation should be good for the GXY SP and no one is denying that. 42.5c would need to get back to $2.13 under a 5:1 to get even with today and much better long term would be great.
Once consolidated if Galaxy acts like it has these last 18 months every time capital is required further dilution becomes reality.
The management can issue up to 15% of shares at will without shareholder voting or approval, so as I see it, further dilution WILL continue once/if consolidation happens. Plus further directors rights will be awarded so in 2 years time we will more than likely (at this point I will say absolutely) be at least 700,000 shares or more. Sal De Vida will need money and lots of it so unless a 3rd party volunteers a CR or heavy debt will follow. If you think there will not be any CR's within the short term I think you are deadset wrong. Don't forget they need to pay off the recently acquired finance requirement which will soak up a lot of this years profit. Doesn't leave U with a great cash balance but a nice medium sized one!
I would like to see any further share issues off the table short term but we both know that will not happen...