Cash is KingMining companies need cash to survive. To generate this cash they either need to borrow or issue shares vis a vis private placements or share options. Without the cash they cannot survive. Until they generate revenues from their mining they will continue to dilute their shares. There is no doubt that NAG has potential. But until they start realising revenues from their coal production they will continue to do pp's and share options. Failure to do so will result in bankruptcy and oblivion. Let's hope that NAG will commence production soon so that everyone prospers. Remember that in business CASH IS KING.