By definition, it does not dilute.
So another from the cheap seats offering their bush wisdom.
It does however reduce the potential upside the company will secure from production. Regardless, if AW1 gets there it will be rudely profitable.
AW1 is still a long way to production though. What has been offered by Taurus appears quite generous from my perspective, but perhaps they know more about what is transpiring at Storm this season.
Ann: $18.8 Million Royalty Financing, page-63
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