Thanks for that informative response.

To me, dilution per se is not a major issue. I've seen dilution with pretty much any one of my junior mining stocks. It is more important to have the financial resources to develop the properties and to get some better drill results. What matters to me is that every $1 spent generates $1+x! in the long run and that needs to be proven first.

Bare facts are that mining is an expensive line of business where you first need to invest before you may see any results. Similar to pharmaceuticals. A reverse stock split wouldn't hurt though, with 273M shares outstanding...!