I guess if you want a definitive answer, you may have to wait till the next financial statements come out, which should be pretty soon. They had 130,662,835 as of Q3 2007. They have 20,551,709 Outstanding warrants as of August 30. They had many financings between September and now:

Sept.6 $3.15 million 2,222,222 shares

Sept.12 $2 millon 4,762,000 shares

Sept. 20 188,500 shares (options exercised)

Nov. 9 $12.5 million: 7,692,307 common 10,000,000 flow through

Dec. 14 3,276,00 stock options @.58

The answer is about 155 million shares not including potentially another 20-23 million diluted. In particular, I am not sure how many options expired at the end of the year.

Dilution sucks, but it's a reality of investing in juniors. On the positive side, they have enough money to bankroll this upcoming year, and raised the money before the market turmoil, at a much better stock price than they could do today.

They may not have known what was coming, but they really played their cards right in my books.

MR