Ann: Proposed issue of Securities - KKO, page-6

You missed the point of the announcement. KKO acquired an additional 51% of the project in place of those shares, no dilution as they have now doubled their value by going from a 49% owner of the project to 100% full ownership.
Also, there is $6.5m worth of those issued shares that have offset the value of the buy out in order to recoup the money spent by KKO over the past decade where the JV partner had not contributed equally. These shares will be sold to third parties at their discretion, putting more money back into the business, not diluting the SP.