Thanks for stating the obvious. Like I said, at the very...

Thanks for stating the obvious. Like I said, at the very beginning of my DD. I couldn't find management's salaries. But with low SOI, it means shareholder value won't be diluted to easily as CR's are required to progress the mines etc. The number of bags ADN did depends on where you look at it, it did close to 100 at some point. In 6 years, ADN has gone from ~230m SOI to over 2 billion. Imagine if they didn't dilute shareholders value what the SP would be at now. That's why low SOI is a good indicator to watch. You really need to do more research yourself than being educated through HC.

I start my DD on hotcopper to find main discussion points and then move to the financials and fundamentals of a company. Good management team who have had past success. How much skin they have in the game. Whether it's a 'lifestyle' company. Whether the product is a going industry or has a critical requirement to groups of people, i.e., medical. How often and at what point they do capital raises. There are a bunch of things I look for. The financials, while quite important, are not the most important as the competency of execution. Without execution you don't have anything.