"I still wonder why they had to punish existing shareholders so hard with this recent placement. Probably they had to help out some old friends."

I don't know why someone as smart as you would still be thinking the above quote from your post has any any facts associated with it at all. No company tries to punish their shareholders and the other comment is way below your intelligence quota to the point I won't even comment on it.

In my view the company can certainly be blamed for the timing of the financing at the time it was done, of course I also know shareholders who think they were smart given what has transpired in the precious metal sector since late September. None of this will matter that much in the future if this sector performs as we expect it will and Golden management continues to progress the production profile of the company.