I would suggest you take the time to listen to what Mr.Clarke mentioned: Baa would be looking to JV the 3rd mine in order to focus on dimishing debt for the existing 2 mines...sounds like a better plan than more dilution and problematic debt financing by doing it all alone,imo.
I've been a shareholder for years now and it's felt like the longest time for BAA to (hopefully) have both mines finally running to capacity....Let them pay off some of their debt without mgmt having to pinch pennies every month.