I gotta say there's dilution but the bod been pretty good for retail shareholders.  They've aligned themselves to only benefit through an asset sale.

Find me another public company like ours.

-zero stock options for management and bod.

-compensation for board members to attend agm for example. (no at market rate)

-zero reverse split in stock and doing a placement after another drop in SP. (imagine dilution when we were at 12 cents for those few years and they did a reverse split to $1.20 then watch the stock trade back down to lets say 40 cents and then they do a PP? every retail shareholders will lose more.

-EE can take up the entire PP but they opened up the pp for not just accredited investors but retail shareholders as well.

-minor spending per year to minimize the dilution while growing from 1 asset to multi asset company.

Like I said before, Elmer and Hector has 6 million reasons and EE 300 million reasons wanting this stock to go as high as possible.  But you need Teck willing to pay the price.  They gave opportunities for shareholders to lower their cost basis to their level.