RE:QuestionTo be clear, I am simply asking a question based on what I view as a questionable decision, not claiming to know the answer - maybe there are good reasons as to why the equity raise needed to be done now, but I doubt anyone posting on this BB knows for sure.
Nonetheless, NFG's equity raise news release was issued after market close yesterday (August 17 at 4:21 pm), so today was the first trading day post-announcement.
NFG closed down 11.97% on volume of 1.15M.
Of all the Canadian junior gold exploration-stage explorers I follow, this was by far:
a) the largest drop in share price (SIC was second, ending the day down 6.74%)
b) the largest trading volume of any company (LAB was second at just over 500,000)..........usually NFG is among the lowest in terms of daily trading volume.
so it appears the investment community was not happy with this decision.