Yes the dilution has been tremendous. And failed to add value. The number of shares in the register is a serious problem (e.g. makes listing on the TSE non-viable, makes future CRs problematic).
To be fair though, the MdP discovery created enduring value for the company. Most of that has long since eroded away of course (due to dilution, earn-in and POG corrections etc), but this was an ongoing process over 6 months or so. I wouldn't call it a P&D.
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Yes the dilution has been tremendous. And failed to add value....
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