ALL funding comes with some form of dilution of ownership. Funding = Dilution. Funding is a very good thing. I'd rather own 1% of a funded GSPG than own 2% of an unfunded GSPG.
Mr. Winfield and others are converting their debt to common shares. Key players like Jim Golden and other key employees have large common share positions (and mediocre salaries). These insiders obviously are comfortable with the amount of planned dilution. Mr. Winfield would NOT convert to a common stock position if it wasn't clear that dilution would be minimal and highly beneficial.
With merger and acquisition experts, Moelis, as a strategic partner, GSPG may have longer-term plans to use some of the A/S for acquisition of other mining companies. This plan could eventually grow GSPG into a major player.
Only small-minded, penny players fear the word "dilution". Well-planned dilution = funding for drilling, production and major acquisitions.
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