from the ann: "The capital raising was significantly...

from the ann:

"The capital raising was significantly oversubscribed, with support shown by both existing shareholders and new investors.

The Company believes the strong demand for Placement shares confirms the underlying strength and robustness of Galaxy’s suite of assets and marks the Company as a leading global pure - play lithium company."

My take, GXY were keen to cement existing and gain new insto shareholders, which is ultimately good for all shareholders, and a huge vote of confidence in the company's plans.

A speedy cap raise for $61m to get SDV underway is obviously designed to flow into other financing and JV or offtake partner discussions taking place, whereas a rights issue to all shareholders takes much longer and AT is all about momentum. Either way it means as of today, more of the US$1.4bn project npv of SDV can be included in any valuation of the company. IMHO this should immediately be accretive to GXY's share price, though traders will have their fun for a day or so.