There certainly wont be any dilution this year. At the current rate of cash burn there's no need for extra cash for around another 3 years maybe more. EDL has also stated that they are looking at generating near term revenue from the namwele mine, which would take next to no costs to start on a low scale and still generate considerable revenue for a company at this current stage of development with low expenditure.
The next time more cash will be needed from outside sources is the start of major mining, and this is extremely unlikely (to say the least) to be raised via any issue of additional shares. People who suggest dilution to start mining are either on the windup or simply have no clue (or both).
One of the great advantages of having relationships with large reputable shareholders from the financial world is that they will have access to lending at good rates as and when they want it should they choose to go that route. By the time they are in a position to start major mining the resource will be known and lenders will know exactly how long it will take to get a return on their dollar and what risk if any is involved.
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