Yes, a porphyry source would count more than anything - one honey hole, that's all it would take. They do pretty clearly have accessible ore economic at maybe one dollar copper, with a great likelihood of increasing it. I wasn't all that underwhelmed by the release, as I hadn't had expectations about it built up by communications with certain persons, but i understand others did, and are. They don't, to my knowledge, hold shares at this point, so it may not make any difference to the shareprice.
I'm fairly sure that shares out are 18.9mil - to get fully diluted you would have to add up the options and warrants. Here they are from the FY98 filed on sedar 17/02 -
"Share purchase warrants are outstanding to purchase 217,575 shares at a price of $.55 per share to June 18, 1999; 260,870 shares at a price of $.46 per share to October 20, 1998 and a price of $.52 per share to October 30, 1999; 483,871 shares at a price of $.31 to December 11, 1998 and $.36 per share to December 11, 1999 and 552,419 shares at a price of $.31 per share to March 11, 1999 and $.36 per share to March 11, 2000.
NOTE 9 - SHARE CAPITAL (con't)
Options are outstanding to purchase 189,060 shares at a price of $.75 per share to January 28, 1999, 360,730 shares at a price of $.60 per share to June 26, 1999, and 189,000 shares at a price of $.37 per share to February 11, 2000."
217,575
260,870
483,871
552,419
189,060
360,730
189,000
_________
total - 2,253,525 .... not that many, considering ... and nothing under .31
Anyway, i make it 21.2mil fd
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