Given the uncertainty in the prices of the PM's and the need to garner financing BEFORE any short fall leaves you prey to the wolves of Wall Street...this wasn't a bad move. Besides - what helped drive the stock to the magic above-the-recent-average-price level of $1.50? Not just the market left to its own devices. This was a well managed price rise to meet the deal.
Better than finding out the deal was done at $1.00 - which frankly is not uncommon. I am happy they pegged well above the average price of late.
As is noted - whomever bought at $1.50 obiviously thinks the company is worth much more - even with the added dilution.
The real driver in all of this - PM prices... and gold is nicely above its 50 dma AND investors exiting the broader market in a near-panic will be looking to park some of the gains...and gold is historic port in a financial storm. Bring on the short squeeze. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/24_Maguire_-_Stunning_Physical_Gold_Buying_Terrifies_Shorts.html