It's a matter of WHEN, not IF. Should GXY go ahead with the...

It's a matter of WHEN, not IF. Should GXY go ahead with the battery plant they would need cash to build it. AFAIK it's a 100M+ project. Certainly they could wait for cash flows from Jiangsu to finance it but this would take years or a decade. Since GXY wants to enter the battery market now, this is not an option. Debt and/or equity is the logical consequence. Everybody following the story must have known this. This is no surprise whatsoever. In fact I am happy to see the share price go up since this should help keeping dilution as low as possible.