How about $200 million cash raised last qtr plus $420 million cash raised (at 1.5%) this qtr is equal to the Kinross share of developement cost of Cerro Casale. Read my post last week with the subject "Cerro Casale appears to be a go".
This dilution stuff is nonsense. Only when the stock is for a week at $36 can the convertible be converted into stock at $28. The stock has a long way to go from 22 today until 36. Meanwhile, the company has $400 million at 1-1/2% thus replacing much more expensive debt. The convertible was the smartest move ever at the terms they received.