LAKE VILLA, Ill. and SANTA CRUZ COUNTY, Ariz., March 28, 2005 /PRNewswire- FirstCall via COMTEX/ -- Galaxy Minerals (GAXY), today addressed the recent decline in the stock price along with erroneous posts on Raging Bull and other message boards concerning the Company's activities.
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The Company has contacted its legal counsel who will aggressively pursue the posters on Raging Bull and any other website where posters have completely misled investors concerning the Company, its present activities and future plans. Management reinforced that only news legally disseminated from the Company in the form of a press release should be regarded as reliable and that any personal commentary or posts are completely subjective.
Additionally, these posts may be adversely affecting the Company's share price. Management and the Board understand the share price can fluctuate due to general market conditions; however, it appears that the share price has been immediately affected after the posts appear. The Galaxy's legal counsel also will address this issue.
The Company plans to conduct a teleconference in the immediate future to address shareholder questions and concerns. A press release will be released detailing the teleconference date and dial-in numbers prior to the call.
Continuing Galaxy Project Updates:
Yellow Jacket & Phoenix Mine: Galaxy is currently making the final preparations to bring this mine in to production. Obtaining the correct permits for mining and getting the final data back from the labs is ongoing.
Culebrillas Mine-Peru: Galaxy Minerals has people on location and will be tendering for a planned intensive drilling program. We hope to see drilling take place in the later half of this year.
Oatman/Lexington Mines: Craig L. Parkinson of Parkinson Geologic Services was dispatched to do preliminary plotting, mapping, and rock chip sampling from the 7 patented mines. After this stage is complete, Parkinson Geologic Services will be conducting a review of the other 76 parcels of property we have on the claim block in and around Oatman Arizona.
Bonanza Project: This project is our latest acquisition with approx. 5000 acres of land. The project is a disseminated gold project that will require drilling and sampling across a vast area of the acreage. The company may take bids from drilling and /or engineering companies in order to expedite the exploration process.
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Galaxy Minerals Inc. Announces 20% Stock Dividend Information for Its Shareholders 3/28/2005 5:05:37 PM
LAKE VILLA, Ill. and SANTA CRUZ COUNTY, Ariz., March 28, 2005 /PRNewswire-FirstCall via COMTEX/ -- Galaxy Minerals (GAXY), today announces the way the 20% dividend being given this week will be executed.
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Galaxy Minerals President/CEO today made the following information available to its shareholders on how this week's stock dividend is paid and what to expect.
President/CEO Matthew Symonds Stated: As released last week, the 20% dividend in stock paid by Galaxy Minerals Inc. is as follows ... NASDAQ will adjust, starting on Market Open March 29, 2005 the share price to a rate of 20% lower than the close the previous day (28th of March). Shareholders of record on March 31st 2005 will be eligible for 20% more shares than they had an end of business day on the 31st. The pay date for the dividend is April 1st."
Mr. Symonds also commented: "Shareholders of record will not have to do anything to get the extra 20% of shares. They will electronically be transferred to your accounts."
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Galaxy Minerals Addresses Naked Short Selling of Its Stock 3/28/2005 5:28:02 PM
LAKE VILLA, Ill. and SANTA CRUZ COUNTY, Ariz., March 28, 2005 /PRNewswire-FirstCall via COMTEX/ -- Galaxy Minerals (GAXY) announced today that it believes that the company's securities have been subject to Naked Short Selling. The company intends to take whatever action is necessary in this regard and is currently seeking legal council on the matter.
Matt Symonds the company president commented: "there seems to be a trend and anyone with an online quote can see who the culprits are; you only have to see who the lead seller is, in what seems a blatant manipulation. We intend to take whatever action we can; our investigations seem to point to the same groups that other small caps are suffering from. Fortunately we have found sanctuary with quite a few organizations that have offered advice in this regard."
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Galaxy Minerals Comments on Recent Trading Activity on Its Stock and Unreliable Reports and News on Internet Message Boards
LAKE VILLA, Ill. & SANTA CRUZ COUNTY, Ariz., Mar 29, 2005 (BUSINESS WIRE) -- Galaxy Minerals (OTCBB:GAXY), today addressed the recent decline in the stock price along with erroneous posts on Raging Bull and other message boards concerning the Company's activities. The Company has contacted its legal counsel who will aggressively pursue the posters on Raging Bull and any other website where posters have completely misled investors concerning the Company, its present activities and future plans. Management reinforced that only news legally disseminated from the Company in the form of a press release should be regarded as reliable and that any personal commentary or posts are completely subjective.
Additionally, these posts may be adversely affecting the Company's share price. Management and the Board understand the share price can fluctuate due to general market conditions; however, it appears that the share price has been immediately affected after the posts appear. The Galaxy's legal counsel also will address this issue.
The Company plans to conduct a teleconference in the immediate future to address shareholder questions and concerns. A press release will be released detailing the teleconference date and dial-in numbers prior to the call.
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thats what I want to know. Just bought some more at $0.12. If I had known it was going to drop like this...I would of sold at $0.17 when I had a chance and bought back at the lower price. I'm holding at this point...can't risk selling and the stock going back up.
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I just called my broker (scottrade) and they said the dividend is due tomorrow (the extra 20% shares as promised). And also according to the news wasn't the price going to be lowered by 20%. Is that what is going on. I do not want to sell my position cos i am not sure if I will still be entitled to the dividend
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LAST CHANCE to grab GAXY at this VERY cheap level before deadline today!
Strong feeling it will bounce nicely after dividend distribution.....chart is very ripe!
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<Rich Jagger>
unregistered
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Well it lloks like whatever selling was left happened today.This just might be a good time to grab some shares .Maybe a little more to the downside.We'll see how it opens tomorrow.Looks pretty safe in this area.
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