Loading ...….to illustrate how indiscriminate the selling is in the precious metal stocks.
Yesterday, one of my holdings SVM (Silvercorp) announced an offering of $130 million senior secured convertible notes. There wasn’t any mention of how these notes were going to be priced. The algorithms immediately thought that this was dilutive and took the stock down 12% on the day.
Today, the company announced that the “initial conversion price of the Notes represents a premium of approximately 30% over the last reported sale price of the Company’s common shares on November 20, 2024.”