Galaxy share placement

Lithium explorer Galaxy Resources is seeking to raise $65 million with a placement of 51 million shares at $1.28 each. It has already secured a $130 million debt facility from its new major shareholder, China's Creat Group, covering the estimated cost of developing its Mt Cattlin mine in WA and associated plant in China, but will use the funds raised to keep the debt-to-equity ratio for the projects at 50:50. Helmsec Global Capital and State One Stockbroking are joint lead managers. Luke Forrestal