kumbakaraMy issue with the placement was the timing. Good management in this sector time their placements when the price goes up, not down. The stock was trading above $1 for a while and no placement. Then when it crashed for no good reason but the market panic in August, they put up the placement.
Why didn't they do it before that? If they had any good smarts, they would have known that they needed it before August and taken advantage of the high pricing.
Go have a look at what good management do in this regard. They have placements ready to go for when the price rocks up. See KXL for example. That's called good management and were clearly looking out for their shareholders by taking advantage of that pricing.
MIO could have issued half the shares they did for the financing if they were smart about it. Now, it kinda looks like they were desperate when the price dropped and the signal to the market was ... don't buy this any higher. Now, the price is taking a beating. The market doesn't appreciate such imprudence, imo.
Again, good luck, I wish you the best.
franz