I can fully understand that you're pretty pissed off with the lack of shareholder value creation so far, but once again, most junior miner shareholders will have similar opinions about their shares.

I do not look at the number of outstanding shares at all when I select stocks. I look at market cap vs (potential) reserves. If companies however continue to increase the number of outstanding shares it is often a sign of financial weakness. Many of these junior mining companies are terminally ill until a medicine is found for their solvency syndrome. This is why I invest in a great number of junior miners and I accept that at least 50% of my patients will die, as long as the survivors in my portfolio compensate.