If there's a price-per-in-situ-ounces being paid, that means that company is selling today, and isn't diluting their shares again before the sale occurs.

GNH is selling in the future, therefore there is a discount to that future price.

GNH will be diluting before they can sell so the price-per-in-situ-ounces has to be divided amongst the total future share float, not today's smaller float.

Grabbing some more today at 54 cents. I shouldn't as this leaves me with no cash. Should be pointed out that while I hate pumpers, and am very conservative, I'm trying to hit this thing with as many arguments against as I can and still can't find a reason to not buy in... only a reason to hold out for lower prices like I always want to do. Can't see a reason to sell this off, at least not until they can find a piece of rock that doesn't have gold in it.