It does not say "NO DILUTION OF SHARES" it says "VMS Ventures owns 26% of its shares and doesn't want to be diluted" which does not mean squat.
There was a time when a stock like NAN would have bounced off a buck following a decent news release and trade resumption; those days of "irrational exuberance" are long gone.
We are entering the decade of prudent investing, shareholders want to see how they are going to get their money back through value added asset growth and dividends. They want to see consistent growing revenues and even more important growing EPS.
You may say these are penny stocks and those metrics do not matter, if this is the case you would be sadly mistaken; ideally you would be investing in a junior to get in on the ground floor of a high probability prospect, not just a news pop. A prospect that shows the ability to achieve consistently growing EPS gets rewarded with share price appreciation.
There are two methods to raise investment capital outside of revenue generation--which NAN is not--and they are debt or equity. I don't think NAN has allot of room for debt financing, there for equity financing may be the only avenue. The problem with equity financing is that it diminishes that ever important EPS.
A quick note on the geology; the results were better, but I can not say this is a mine, if it were 2% Ni I wold feel confident in such a proclamation. Maybe the kimberlite results will give me the confidence I need to make such a statement.
p.s. A drill program to zap all 75 ore so remaining targets this spring would be nice.