insiders equity position overall Annual Report June 2018 page 4 and 6
The “Common Shares” component of the Shareholders’ Equity is $33.23M or 19.0c/sh.
The "Common Shares" includes all the private placements, flow through shares, debt for shares, etc. It is effectively a record of all the deals of the “insiders”.
There is has been significant dilution each year.
shares amounts
2016 45.3M $15.0M or 33.2c/sh
+ 78.0M $12.6M or 16.2c/sh
2017 123.4M $27.7M or 22.4c/sh
+ 51.4M $5.7M or 10.8c/sh
2018 174.8M $33.0M or 19.0c/sh
Equity added in the last two years $12.6M + $5.7M = $18.3M
The insider average cost is high at 19.0c/sh compared to the 7.3c/sh book value.