press release by major shareholders of bmg, page-8

Specy, i was jsut stating that without the $25mill or a JV CAP will have to raise a LOT of capital and hence dilute the crap out of the shares to get anywhere with the project if BMG stall or dont pay up.
So unless we have long time frames for this one (i dont really) or we have plenty of spare cash to put in when the CR's take place, our holding will be diluted. The MC of CAP may well go up significantly but because of lots more shares on issue at around the same price that they are now.
Been there b4 where a great project gets funded by CR's to the point where a modest shareholding is diluted significantly. The MC of the company goes up for sure but so to do the number of shares on issue, thats mainly where the MC increase comes from, not share price increase.
Hopefully this wont happen here to a great extent.
I don't have shares in this yet but intend to buy some soon. Mostly gone mad with MAD :-)