todays action, page-27

Stringtickler,
It were the fundamentals that drove the SP up.
Fundamentally,in April through to June,the Market Cap was grossly undervalued.
With the Lithium boom,the share price rose.
By early Sept,the share price peaked as the Market Cap had clearly overshot the intrinsic value of the Company.
Fundamentally, the Market Cap has to adjust back to a more realistic value and that is exactly what is happening now.
Without the dilution,it would have fallen back 30% from the $2.40 peak as it had already done twice so far since April.What the market is saying ,is that,at the current SP,the Company is overvalued somewhat.
The fully diluted Market Cap will adjust back to a price that buyers and sellers are comfortable with.
In June,the Market cap was under $50M. As the Company delivered on its plan, this has risen.
With the Capital Raisings (a strong positive)...with the debt raising (a negative) the Company has clearly been revalued.....but to $400M ?? no way.
I give it a fair value of between $170M and $200M and that reflects the cash component of the capital raisings and then some for the Lithium Boom.
The only things that have changed on the balance sheet,at this precise moment are an amount under $65M in the Bank Account and an increase in issued Capital.
There are no mines,there are no plants and certainly there is no income from any source.
There is a resource in the ground and that is all.
The promise of a profitable operation is still 12 to 18
mnths away.
When the Company looks to be close to producing Lithium Carbonate in China,then the valuation of the Company will be much higher.
Until then,the Project is a 'dream' that Galaxy wants to make a 'Reality'.
I hope that this comes closer to answering your question.
Cheers