Well, after reading the "message to shareholders" that came in the mail it looks like dilution is next on the list.

"This study recommends that work be completed to complete a pre-feasibility study on the Van Dyke project with an estimated cost os $US16.6 million."

If they wern't going to do it, they wouldn't have mentioned it. Too bad they didn't keep a little more of that 24 mil Teck paid them....