You dilute by 16%... ... you drop in value of 16%. Realistically, they had to do this I guess - we should have seen it coming. If they miss (god forbid) on Eugenia the remaining funds and shareholders will abandon the stock. Sure, it will be around with Breagh but certainly trading as a penny stock for a long time.
One more chance boys and not long to wait in the geological evolution of this stock over the past 8 years. They had clearly better hit and hit big.