15,000,000 shares issued as payment for drilling of holes. The...

15,000,000 shares issued as payment for drilling of holes. The drill was valued at $3mil, and thus valuing the shares issued at 20cents per share. The effect is dilutionary, but one would imagine that it would only create downward pressure on the sp if the drilling co. Decides to sell at a later date. Conversely, you could argue that the drilling co. (who is at the coalface of proceedings) has great confidence in the project that they are willing to accept payment in the form of shares. If the project is a dud, they may lose some of the 3 mil.

My interpretation only.