Galaxy Resources dilution or not?, page-14

Let me start by re-iterating that I'm in full support of GXY and it's operations.

However, if the current placement of 100m shares @ 54c is in fact correct then in this instance I believe Management have erred as the placement price is far too cheap - try acquiring 100m shares on market in a short time frame without nudging the share price up.

The broker in charge of this raising ,Cannacord, suggested a share price target of 80c only a couple of weeks ago and now see fit to make a placement at a 30%+ discount - easy money for the them for making a couple of phone calls to insto's and mates.

If what has been reported is correct then it is disappointing - share holders would have lapped up these shares via a SPP in a flash IMO.

Let's see what is next !