operations . However , the shareholders stand to benefit , as well . The relatively short time frame from company formation , through exploration to a production decision , coupled with efficient engineering and construction , has kept expenditures and thereby share dilution to a minimum . “ Initially , we were planning on being in production with a much lower number of shares but the financial crisis took its toll ,” states Holbek .
“ However ,” he continues , “ we currently have about 95 million shares fully diluted and therefore will produce approximately one pound of copper per share , per year , at a cost estimated in the order of $ 1.20 / lb , net of byproduct credits and without debt repayment ; so it is pretty easy to estimate the cash flow per share based on the copper price .” ■
[ Details correct at time of writing ]
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