typically, i follow capital raising into new positions, because...

typically, i follow capital raising into new positions, because they have taken the CR out of the picture.
I do not participate in the CR. I like to buy on market at the CR floor. And if there are options involved, then the break even for the placement etc, is below the CR price. So take that into consideration. Sentiment can play a role too, when old holders are annoyed at the CR discount, creates a flush of emotional discount.

But i am selective. There must be value. And in time, probabilities to favor a rise from the CR levels.
For MAT, i've stated my case. $A22/oz. And i'm betting on the tide rising big time 2022.

Holding plenty of other stocks. Some are long term / others are shorter term based on just re-rating to a peer balance.

Sectors out of cycle will get you the best bargains. If you can bet that energy will come back into them.