You make valid points Reiner that existing shareholders should ask before putting more money in the trust of Galaxy management. What is the tradeoff on bond holders??..more unfortunate dilution?? I would like to see how they negotiate this.
I'm resigned to the fact I made a dismal investment decision and will carry a capital loss when sold ...with so many shares on issue and options post rights issue I dare say retail shareholders will not likely see returns on their investment for many years.
Another couple elements that has been touched upon... SDV has not been built!!!...potential more capital raisings??....return from Jiangsu plant profitability less that expected as 12k tonne in lieu of 17k tonne annually and required further $5mill for ramp up and maintenance.
I would rather see it in Administration and realise a return of 20-25c. Ask yourselves when is it likely going see 20c share price again!
Good luck those who still believe in the Galaxy story.
GXY Price at posting:
7.8¢ Sentiment: Sell Disclosure: Held
