Well this went worse than I had imagined, pretty epic own goal scored here, I often hear people complaining and whinging about capital raises when the market is good, on AZS they raised at 3.8 the whinge was epic, the big boys getting set cheap, management are idiots raising when gold was going to $2k....today it's 2.6 and sprott and other are stuck big, us retailers were able to flee the ship and now rebuy the lows.
This is a great counter example as why you raise when the market is good, this could have easily been done for the full $150mill @ $3.5 just a few 3-4 months ago, in this situation retailers haven't even been given the chance to flee, the building has been set on fire with the doors locked.
How deep does this go no idea, they will need to raise that other $125mill at some point, the market won't forget that till it's done I can't see it going anywhere, but below $2.
DCN Price at posting:
$2.19 Sentiment: None Disclosure: Not Held
