Ann: Drilling Confirms Copper Mineralisation at El Pilar, Cuba, page-88

"20-30% of something is better than 100% of nothing."

If you are willing to go down to 20-30% then AAU should be able to keep 100% through a series of capital raises. It could probably do another three or four? before dilution gets to 30% of the current value of AAU.

As we approach mine construction the share price should rise enough to reduce the dilution from each capital raising. This is why I'd like to see as little expenditure on exploration and resource definition (and certain salaries) as possible until LD is generating income.