RE:Pure Energy futureI'm a finance student and based on my knowledge I don't think management will enact any 'major' dilution in future financing. The reason PE has kept debt financing near zero is because there's zero cash flow coming out of the project. Any interest on loans would be high given the nature of the project (few assets/high risk/zero cash flow). Mintak has been out and about attending industry functions trying to obtain preliminary off-take agreements with industry players. Most likely these agreements would involve PE asking for forward payment. PE would use this to finance the plant. Obviously industry would be willing to shell out the cash before they get product because PE would agree to a price WAY below current market prices. Obviously I don't think off-take agreements will be able to cover the entire cost of the project so most likely once the plant PEA, FS, water rights and off-take agreements (partial financing) are in place the company would consider taking on debt pending near future positive cash flow which would allow them to meet their debt obligations. The amount of debt financing needed though depends on the size of their pilot plant and ultimately their scaled-up plant.