re:ann:ogc announces cdn115.5m brought deal, page-2

Because they just created and sold a whole lot of new shares at CDN$3.50 in order to raise the capital needed for Didipio. i.e. - below the current share price.

May just take a little while for the market to absorb this slight dilution before it may start rising again.

p.s. -would have liked to have seen these new shares sold at a tad higher than 3.50, (maybe 3.60, 3.65) however I am no expert in rising capital in the financial markets. New shares at 3.50 sounds like a good deal for the buyers not so much existing shareholders!!

Still a good stock though. Maybe digesting some of the large gains over the last year but I think will have its day (or month) in the sun once again in the not too distant future.

p.p.s - does everyone realise year 1-6 at Didipio they are forecasting cash costs of negative US$331. Thats right, revenue from the copper alone will more than cover mining costs so the 70k gold produced will have a profit margin US$331 over whatever the prevailing gold price is...not too shabby.