RE:Some thought of dilution/potential
1. You can actually find most of the answers if you read the technical reports (pea & 43-101) from dsm website. All the technical reports are open to public. pretty transparent. To be short, the PEA only includes indicated resources (including 140MT of the high grade portion) and the current infill drilling (10,000m) focuses on expanding the grade and tonnage of the high grade area which will have a huge impact on the upgrading project economic. As far as I know, they plans are: In 2021, 10,000 infill drilling to better delineate the high grade zones, Metallurgical test, Environmental impact study, Updated 43-101, Updated PEA In 2022, PFS Further FS level drilling (25,000m), Further metallurgical study In 2023, FS And potentially pilot plant at the end 9f the year but I think it'll be in 2024. 2. When it comes down to financing, pierre said they will need to raise about 7mm in early 2022 for the next round drilling and for FS. He said their goal is to raise the money (in early 2022) when share price is over a dollar. Pilot plant is not something that the government requires or anything. It's just a crucial step to make sure the heap leaching operation works properly and detect any potential flaws and fine tune the design engineering for the future bigger scale mining operation. Because a lot of the failures in heap leaching come from not enough testing/fine-tuning before the full operation. The money for the pilot plant will be raised after FS and the share price will be much higher by then. Or there might be strategic parter or jv. I'm not concerned about dilution at this point.