#NoFreeSharesForPiratesIVN should finance exclusively through debt. Any equity financing at $2.50 - $3.50 would be suspicious in my opinion. Unscrupulous traders should not be allowed to systematically destroy share price, and then get to pick over the carcass through a discounted equity placement. Then I'll know this market is completely rigged. And that means everyone, including and especially Company insiders. Payback for all three projects is relatively quick. Start up costs are modest, a few hundred million USD. If necessary an equity placement can always be offered at a later date. There is absolutely no justification to hand out shares at Dollarama prices.