GXY galaxy resources limited

resolution 2 & 3, page-3

  1. 1,463 Posts.
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    Resolution 3
    GXY is trading comfortably around 90c and confidence is back in the market.
    It would make sense to vote down the issue of 800,000 shares to Hengolo and simply repay the $280,000 in cash.
    Fair play to him for providing an unsecured and interest free loan when things were not so rosy,
    but no need for unecessary dilution to existing s/holders IMO. I note he currently holds 2.9M shares and 1.6M options (class A-E).

    Resolution 2 is more of a worry dilution wise, talking about issuing a further 8.8M shares at 35c. 60% discount to market!
    I note is states placement to institutions and existing shareholders but a little vague.
    Doesn't bode well for GXY sp between now and Xmas as this stock finds its way onto the market.


 
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