Tiger Resources ’ $20 million capital raising announced last week along with its decision to source an additional $US25 million ($26.6 million) in the form of an offtake prepayment facility wasn’t well received by investors. The company’s shares fell from the previous day’s close of 37¢ to close the week at 32¢ representing a decline of about 13 per cent.

The sell-off occurred under extremely large volumes with more than 9 million shares traded, the second highest daily volume in the past 12 months. The placement price of 34¢ was about 8 per cent below the company’s previous close. This along with the earnings per share dilution has no doubt weighed on shareholder sentiment.