If we take your figure of $2million profit (very optimistic) it...

If we take your figure of $2million profit (very optimistic) it will still only be 1c per share earnings. For a microcap company a p/e of 14 is not cheap. I agree thatshare issues can destroy a company,but this company has a history of issuing shares, and 180,000,000 is not small. Not all mining companies issues shares, take a look at tmm. Profit this year will be easily $5 million (results in a couple of weeks) and this company has not issued a share in 20 years.