Does a pink stock of a foreign stock equal the stock? (GALXF/GXY Lithium)

[Adjistyync]

Hello. I am bullish for lithium, but one thing bothers me. Often, it seems a reputable foreign stock is readily available to the USA investor as a "pink sheet" listing. But I don't fully understand how "pink sheets" work.

Galaxy Resources appears to be a reputable Australian mining company. Their website proclaims: Galaxy Resources Limited (ASX: GXY) is an international S&P/ASX 300 Index Company. (galaxyresources.com.au)

In my USA brokerages, I find Galaxy Resources listed as GALXF. Is this just the same? Or would I be well advised to open an account in Australia?

[aexeniciey]

Pros:

* GALXF is mentioned at the Wall Street Journal website and everywhere else.
* They claim to have bought full ownership of a lithium mine in China.
* They claim to be planning listing on the Hong Kong exchange.
* Last week they issued notice that their long-awaited first shipment has been done in China.
* They claim to have longer-established mining operations in Australia.

Cons:

* GALXF is not mentioned on their official website.
* GALXF is on the notorious buyer-beware "pink sheet."
* They are priced in the "penny stock" range.
* My online accounts show zero accounting information about GALXF, as if it were a typical penny-stock.
* Today the price is "stuck" as if there are not enough shares to sell... or something...?

[Agalasel]

If I want full information about GALXF then I can find it under GXY... but... am I looking at the same thing? Is GALXF a real duck or just a quacker? Do I treat this as a long term investment? Thank you anyone!

[AgrikGex]

wish i could help. I see the same thing too, just with other stocks. Same question basically though... Anybody have an answer?

[aixuzayimau]

I like to use " miningfeeds.com" to help

[admin]

uide my mining / materials decisions...if that helps