gdo to acquire rand uranium, page-128

What makes you think downside protection is a forward sale vs gold puts protecting the downside while maintaining the upside.
Why don't you start by speaking to the company. My glass is neither half full or empty. Dilution is also in the eye of the beholder if it happens, who says the funds issued don't generate far greater cash-flow, how is that dilution.
Also remember the people who really make Inv decisions look at things like diversity of income, production profile etc. Have a look at the majors and tell me if they are one mine operations with 400 cash costs