If you'd actually done your DD on this you would know that the moly is not that far away. There is easy access to it and is already permitted. Just watch the latest IIF presentation if you actually want to be informed. Regardless just the downstream plant on its own makes the dilution point pretty much moot.
You have a sell sentiment on this stock while the company is a few months from production, opening up L4 in one of its European mines which will add 40 years to the LOM and generate 30% profit margins, planning a tungsten oxide plant which will take the additional 55% of the ore that is not under offtake contract. If you were a reasonable person you would at minimum have a hold sentiment on this play but you do you.
I have a feeling that when the company starts taking off you'll be nowhere to be found on here...
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