If that was he way it works you would be right. But it doesn't. Their were quite a few who were looking for a loss this qtr as well as next year. Quite a few analysts are going to be revising their estimates. The forward estimate will now go from .14 to maybe .30. The stock price is probably fair at $4 but will probably swing a half dollar higher or so.
I bought at $25 and will buy more on weakness. Got a gtc order in at $22.25. Personally I think the market got ahead of itself. Gold could sell off to $1,000 or even lower. But long term it will appreciate against weakening heavily in debt currencies.
Looks to me like they raised $25m by selling warrants. Didn't see all the terms but they are not in a position to raise money on favorable terms. They need to take this slug and get to break even. No guarantee they can keep raising cash to fund operating losses.