Kinross exercised it's options.

There's dilution and there's dilution. If the float is 500 million shares and those shares are held 90% by one entitiy (Kinross) the de facto float will be only 50 million.

If VIT turns out to be a major-if-only-it had-working-capital junior Kinross will simply feed it as much cash as it needs while Kinross converts VIT into a subsidiary by way of continuous financings and continuous increases in % ownership of the company.

VIT management has to be wary that VIT doesn't exhaust itself on exploration and thereby leave itself helpless in any finishing buyout negotiations with Kinross.