Galaxy Resources shares., page-2

Hi Thesi,
From Corporate Update on 31st October.

As previously indicated, the Company has been in discussions with Michael Fotios, a director of the Company who had indicated that he would provide up to A$5 million of this working capital financing. He was however unable to provide his funding within the Company's timetable, so the Board resolved to arrange the entire financing from its existing lender, OCP.

My questions are: 1. Do people believe that Michael Fotios was unable to provide this funding? 2. Wouldn't it be better for GXY to raise the money from their existing lender, rather than directors chipping in?

They also mentioned that with the expansion of Mt Cattlin operations, they would be able to get lower cost funding/ revolving credit facility to fund their operations. I hope that these are not silly questions!