50% dilution in spasskaya, page-3

Well, that's an odd way to characterise it, Diverbelow, but yes, GTE is in a 50:50 JV with Kazakhstan's National Mining Company, Tau-ken Samruk, to explore and bring to production the Spasskaya Copper Project.

You can read a high level summary of the terms of the JV agreement here (p.3):

http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01239099


One major financial difference I can think of between SIR and GTE off the top of my head is relative market capitalisations at current prices:

SIR - market capitalisation $328m
GTE - market capitalisation $20m

You can draw your own conclusions.