RE: Existing shares and outstanding warrants.They do have a lot of paper out there but the bulk of those warrants are probably going to expire worthless and not become shares. There's about 220 million b warrants with a strike of 15.00 that expire in April 2012. No offense to those holding the B warrants but those are almost certainly going to expire worthless. The strike for the c warrants is 9.00 in about 3 years so that would be the first weight around the neck of the NGD share price if it actually got there. 3.75 to 9 bucks in 3 years is alright with me. The only real overhang we have until then is the most recent placement at 3.75. The other thing to keep in mind is that when the warrants are exercised, that money goes straight to the company. So if the c warrants get exercised fully the company gets 9 x 75 million shares sold = 700 million dollars. The real question is whether you believe NGD management can make good investments with this money. If they make poor use of the money then yes, the large float becomes a problem.