PMC, you mention dilution in EVERY post.  Have you ever invested in a miner before?  They all dilute until free cash flow gets to a certain level.  As PTQ hedged their gold at much lower levels they have been unable to achieve that goal.  It was a mistake they are trying to fix with their upcoming bond offering.  LET IT GO!!!!!!
 
Your last post was almost good...  keep trying, you'll get there.  :)