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Old 08-25-2009, 12:58 AM
Sparty Sparty is offline
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Default Galaxy takes China's "Great Group" as its cornerstone investor

Galaxy Resources has secured China's Creat Group as a cornerstone investor. This will enable Galaxy GXY to start their Ravensthorpe project within 12/12.

According to sources in Western Australia Creat Group will provide $130 million in debt financing and a $24 million placement to Creat at around 88¢ a share giving Creat around 19% of GXY.

Galaxy will also raise an additional $50 million from Australian institutional investors.


Read the full story here

Summary of GXY


Read about other Australian Lithium companies and issues etc

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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