I understand how share structure works, but there is no...

I understand how share structure works, but there is no convincing me that a company with over 2B shares outstanding is not a big red flag on its track record and potential. Yes, they could finance with debt, but what do you think the terms would be for a project in the DRC, 12%? Will they be convertibles, have warrants attached? What about the implementation of an options program? Before you know it you've diluted 50%, ie 3b shares. Have you considered the potential costs of royalties to the DRC government? Could you even reliably discount it? Look what they have done to cobalt miners by government decree. As gold rises will they want 10%, 15%, or 20% of the project's profit? No wonder they were ranked 5th last for policy perception in 2017 by the Fraser Institute. I have come up with these deterrable dilutive and political risks in 10 mins, give someone a day and they will come to the conclusion that VEC is priced appropriately anywhere sub $50m