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Sell i-80 Gold (IAUX)


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The company just raised C$115 million (current market cap: C$567.7 million) and has filed a shelf registration to raise another C$300 million. With this kind of dilution, there is a less than 1% chance current shareholders will get any upside even if the company is successful. Also, this level of appetite for raising money for no apparent reason indicates problems ahead. There's just no other reason for management to dilute at the lows and curb any rally in the stock.

This is a hard sell and avoid.

He said

"If you're gonna play the game, boy You gotta learn to play it right You've got to know when to hold 'em Know when to fold 'em Know when to walk away And know when to run You never count your money When you're sittin' at the table There'll be time enough for countin' When the dealin's done Every gambler knows That the secret to survivin' Is knowin' what to throw away And knowin' what to keep - The Gambler by Kenny Rogers

Good Trading!


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