is a $1.77 worth a top up???, page-3

I think the underwriting of $112 million (for the bought deal financing) at $1.77 (less than 10% discount to what IAU was trading at) is a pretty strong vote of confidence in the company. Unlike other capital raisings where price is usually at a substantial discount, I dont think this will result in significant short term profit taking. (i.e. the difference between the price - less then 10% - wouldnt justify the investment as a short term profit making exercise.)
For the above reasons - coupled with my own very positive view of IAU's prospects - I think the SPP at $1.77 would be worth taking up. However in my case, I was lucky enough to purchase the stock on speculation last year around 35cents and its now my second largest holding in my super fund and for that reason alone I won't be participating.