*****i like the bit about '2 times oversubscribed ' that say a lot about how in demand GXY shares are.
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Galaxy Resources's lithium play at Mt Cattlin in Western Australia.
Lithium producer Galaxy Resources has cashed in on its recent share price strength, raising more than $60m in fresh equity from investors.
It is understood Galaxy has secured the funding at 54c per share, a modest discount to its previous close of 59.5c.
It’s believed the equity raising was more than two times oversubscribed.
The funding will help it start early site works at its Sal de Vida lithium brine project in Argentina and give it more balance sheet flexibility and strength as it negotiates a more expansive funding package for the development.
