17.5 cents!!!!IAM Gold just paid $10.5mm for 50% of one project-and then did a private placement at .35!! And then someone sells their stock for 17.5!!!!!-putting a market cap on the whole company of less than what IAM paid for half of one project. Theres an exciting gold project in Turkey(financed)-and a proven deposit in NS-and someone values the whole company at less than the value of 1/2 of one project, with Turkey and Cape Breton thrown in for free.
Put another way-one of the smartest management teams in the business made a major purchase of stock at .35 and immediately some genius thought it appropriate to head for the exit at half that price. I know markets are scary right now but try to use to common sense. IAM Gold was only able to get the price down to 35 cents because of external market forces. .175 is ludicrious.
Take a look at the track record of IAM Gold-they have demonstrated an ability to spot opportunity-and they bought MXI in a big way at .35-in this market.