Galaxy on halt
https://www.google.ca/amp/s/www.nasdaq.com/articles/australias-galaxy-resources-to-raise-%2524118-mln-to-fund-lithium-projects-2020-11-24%3famp
Nov 25 (Reuters) - Australian lithium miner Galaxy Resources GXY.AX on Wednesday said it will raise about A$161 million ($118.43 million) in a share placement to fund the development of its lithium projects in Argentina and Canada.
Capital raised will be used to fund development of Sal de Vida lithium brine project in Argentina, with front-end engineering & design for stage 1 expected to be completed by first quarter next year and first production expected in late 2022.
Galaxy will place about 65 million shares to raise A$111 million, with another A$50 million to be raised via a 1-for-14 pro-rata entitlement offer of about 29 million shares, it said.
The new shares will be issued at A$1.70 per share, a 15% discount to its last close.
($1 = 1.3594 Australian dollars)
I don't understand this one . Should not be better to wait longer and see the share prices going up before doing financing.