Ann: Successful Close of Rights Issue , page-9

No trickery Captain. It's just the way these things go. Most cap raisings I've observed similar to this one for TAM do exactly the same and fall below the issue price shortly after it is completed. It's the psychology of the market. Hopefully the worst is over at least for a while.

The company needs to convince investors that it's not going to need another cap raising before it can profit from the substantial gold resources it has announced, and that it can mine them profitably. That is not yet indubitably established and I wouldn't expect substantial increase in the price until that has been done.