Raephilippe, I had put in Galaxy roughly a similar amount. I was...

Raephilippe,

I had put in Galaxy roughly a similar amount. I was lucky enough at smelling something was wrong when they announced supply from Talison (with a stupid reasoning I believed) and thus sold my stake at 20% loss.

I understand your frustration while agreeing on your current decision not to put any more money in GXY. This is why.

1) 8c pricing is extremely punitive for current shareholders
2) capital increase amount does not provide a definitive solution, not even in case it being fully subscribed
3) convertible bonds' holders can put the company in trouble in just few months, regardless cash raised (even at best case)
4) as banks could, soon thereafter
5) management has not given clear and sepcific answers to legitimate doubts regarding short term additional cash requirements
6) any asset sale accomplished before debt maturity would make the company book huge losses, forcing a new share issuing
7) koreans have walked away while triggering some legal complications should GXY be exploring potential alternative venues for some cash raising on SdV assets
8) chinese are leading the game

Any to-be-taken-now decision on subscrition appears to me like a Las Vegas bet on Red or Black .... it's a blind decision.

While the above 8 comments are still valid a minute after the share issuing is closed, I would rather wait it to be completed as to know who is controlling the share capital after all .... should I realise that most of it has gone into chinese hands, with a full subscription, I would leave the boat. Should I realise that it has not fully subscribed and therefore that chinese haven't taken full advantage of this share capital, I would monitor (as I will) as to see how things develop .... I may pay more than 8c / share but more informed (ie with lower risks)

GLTA