Galaxy Resources (GXY) is an emerging mining and chemical company, focusing on lithium and tantalum production.
GXY has been one of the hot stocks in recent weeks, surging over 25% since its results announcement on 13 September.
On 4 October, GXY advised it was seeking to raise $30 million via a convertible note issue to a Chinese investor.
GXY stated that it intends to use the funds to invest in additional capital expenditure, and working capital requirements.
Although the Australian stock market advanced 1% that day, GXY slumped 3.5% on its capital raising plans.
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