Complete overreaction by market!We all know that there is a negative visceral impact to PPs at a discount, but it also presents a buying opportunity if you still like the company.
IAU raised C$32m by selling 11m+ shares at C$2.70. Today IAU has 172m shares so the actual share increase was about 6%. Plus, there were no attached warrants.
Today's loss of value in IAU is around C$60m. Illogical, as it's almost double the PP amount, but that's the negative market perception of PPs and why I often increase my shareholding after PPs if I like the company. I increased my shareholding of IAU over 40% today.
That being said, I agree with a previous comment that IAU mgmt needs to narrow its focus on gold production and cashflow.