GXY 1.70% $1.65 galaxy resources limited

The demand is just mind boggling.the banks and China have the...

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    The demand is just mind boggling.

    the banks and China have the whole industry bluffed at the moment. Galaxy is bundled into a basket of no. Producing lithium play, all of which carry debt or are in the process diluting holding via capital raisings.

    less $445m in cash
    $331m enterprise value.

    no one is winning.

    management: can’t purchase due to neg + pressure from all angles. Tough job atm.

    shareholders: most sitting on a loss.

    shorts: 17% with very low volume. Can’t close positions so unable to crystallise any gains. Paying credit card rates to lend from instos.

    traders: low volume and the trend has be steady decline. Near impossible to make a decent $.

    offtakers/JV: no deal so far so they are frustrated galaxy won’t accelt there “multiple offers”

    instos: large holdings in the company and substantially higher prices than today. Partially offset by rate paid by shorts for borrowed shares.

    so here we are at $1.90 and wondering what the heel next? Surely something’s gotta give? It’s so tightly wound up that either good or bad news will be the circuit breaker.

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