True but Yes there is a lot of shares out there... yes there was a small insider trades.. yes there will be and is diultion matters... who gives a %hit ... when its all said and done it really does not matter right now... in the end if the ounces are in the ground and the price of gold holds up the mortgage will get paid,, and the price will rise for the person who takes Timmins as an investment. If one is willing to wait this out there is a very good chance that the stock price ... lets say in 2 or 3 years will be higher dependant of gold price.. 2 or 3 years as an investment is nothing.... variables would include monies available when Ana Paula gets going.. the factor that matters the most now is price of gold and what they can get out of San Fran... in the end its all relative to ounces, price. and the need to spend money to make money. signed. dont bring me down...