raising?, page-9

Let's review the facts for a moment.

They're running at 83% capacity since we were last updated. .
The Jiangsu plant at optimal rampup is producing 17,000 t/per annum.
17,000 x .83=14110

14110/12(months in a year)=1,175.833tons per month.@83% capacity

Technical grade is approximately US$6,250/tonne (As reported)
So, the sales equate to $7,348,956.25/ month @83%

Their first shipment from Jiangsu was in May, and they will have until the end of this quarter to pay 15million back. 3months of running at 83% or more as they continue ramping up.

"Galaxy has undertakings for additional working capital facilities from several PRC banks for A$45 million during the Jiangsu ramp-up"
-Half Year Accounts - 30 June 2012
The PRC loans will cover operational costs for the initial ramp up of Jiangsu, so all the profits from sales will be used to pay of impeding debt.

So to answer the question. Do they need capital raising? No.