firecracker, you are speculating that gold prices have bottomed and can only surge from here and that is a dangerous mindset as an investor and especially if one is a mining executive.  We have all watched gold crumble from $1900's to below $1200's in 1.5 years.  Gold still has not really broken out of any significant technical resistance levels yet and still considered to be in a cyclical bear within a longer term bull market.

When the mining sector is humming along as it has been for the past 30 days and sentiment on gold has shifted from rock bottom, then you absolutely take any money that is available from outside investors!  Essentially they have negligible net cash if you cancel out the cash in treasury with the debt.  So they need money and cannot afford another downleg in gold prices.