If a company with a low number of shares needs to raise money by way of issuing more shares than obviously your dilution is higher in percentage.If BNR needed to raise 9 M $ and offered shares at current prices than the value of your holding would be cut in half.
This scenario is very simplified but I agree with a previous poster that KMC is in a better position as they have cash coming in atm.
at cash backing & gold plant, page-6
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