No one likes dilution, me the least of them. But not all dilution is the same. There's dilution through financings to keep the company afloat or to line the pockets or management/directors and then there's dilution for things that ultimately contribute to share price appreciation.
In this case the financing was for the advancement of the Moly deposit (said to be worth $2 billion) and the advancement of the downstream mine. Both of these will contribute handsomely to EPS, particularly the downstream mine is a foregone conclusion. So yes more shares out due to dilution but with higher revenue and EPS for shareholders. Would I be happier if they could have done this without dilution? Yes! But its important to keep things in perspective. . .
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No one likes dilution, me the least of them. But not all...
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