Your argument is that dilution is bad for the SP, don't confuse that with SOI being bad for the SP... two very different things and can be misleading as people walk away and think SOI is a useful metric to look at when it's not (in my opinion, I guess?).
Yes we had the dilution discussion, and my argument at the time was that you cannot pick and choose variables to calculate, for example what the EV will be based on today's conditions plus future dilution, but without considering where the company will be or what it holds by way of assets (actual, inferred, targeted, or otherwise). I think it's fine to forecast and discuss these things but ALL things must be forecast in unison, not in isolation. At the end of the day my exposure is worth SPxShares, so whatever ratio sits behind that I don't care. If the SOI increases 10 fold, I don't care if the SP is trading at 40c do I?
I guess my point is there is an absolute void of discussion on the useful metrics, say where will the company potentially be once we have completed drilling, or completed DFS - let's sya we hit the 25moz target, what will the MARKET CAP / EV become, measured in conjunction with the SOI / Dilution. That is a discussion not being held, instead we are discussing that dilution by it's very nature is somehow the greatest evil. So I don't really take issue with the specifics of what you are saying, but I do take issue with the context / greater narrative.
Having said all that, expenditure on drilling vs. DFS is not something we have butted heads on yet, but I have no real view on that save that I will let the people that have been doing this their whole lives run a company, I won't pretend I could do it any better
VEC Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
