Having had the misfortune to suffer through similar...

Having had the misfortune to suffer through similar circumstances with other stocks, imo, it is not unlikely TAM will slide down close to the issue price of the new shares and may even dip below now and again in trading. It will take some good news on the drilling front to lift it again, or a long wait till they realise their production goal of 200,000 oz/yr - and then it will depend on the costs of production and the gold price at the time. Apart from the effect on the sp, it is a good move in current global circumstances for the company to get rid of a lot of debt and set the scene for future profits even at the expense of dilution for current shareholders. However, don't expect the punters to see it that way.

It's not that long ago that TAM was .006/.007 at the last cap raising and has risen since that time more or less on speculation. I bought at .007 and sold out half way on the way up but didn't have the nerve to get back in having been bitten by similar situations before.

TAM will rise again eventually, but it's quite likely to go further downhill first.