The scenarios on which to base dilution were my musings/hypothesis, or "Concoctions" as you've put it.
The dilution is entrenched in the agreement. As of the December quarter a further $1Mill has been spent on exploration on these Tenements. ODPL will have to stump up $250k (in proportion to it's OD remaining interest) or suffer dilution. On what that dilution is based is the only conjecture.
Ann: 80% Ownership of Olympic Domain Tenements Achieved, page-196
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