RE:Here is a pretty good read from seekingalpha on FFOverall, this is "a pretty good read", as you said - especially for people unfamiliar with the company. My main complaint is the author's simplistic view of dilution. The title says it all: "Building a Billion Dollar Company Via Massive Dilution."
Specifically, I'm referring to his comment: "Dilution is still dilution...it doesn't matter which form it takes." This is definitely untrue: there is accretive dilution and there is its opposite, and there is a great deal of difference between the two. All of FF's diltuion has been highly accretive, even taking into account the difficulty of valuing the ounces in question, since (as the writer rightfully states) "it's the quality...not the quantity" that counts.
I can't fault the author's more conservative approach in waiting until the "massive diltuion" has (more or less) come to an end. But if I had discounted KN's record (and his much more credible expertise in valuing assets) and decided to hold off buying when FF was in the 20s and low 30s, I wouldn't have ben able to sell about half my position near the high and still be sitting on a very nice pile of "free" shares as I am now.