PPS speculation is completely hypothetical and full of risks as stated in the company's PEA for Phase 2 (quote below) . On the other hand, speculating on the various range of potential ways they will raise $$$ for CAPEX of $155 mil or so for Phase 2 is completely logical and part of understanding the company's financial options (debt, JV, institutional dilution). I remember Brent telling me that Phase 2 would be Bank debt, as Phase 1 is really just to demonstrate it works and can produce quality graphite with commercial market buyers. Then banks realize it is de-risked for debt loans Guess Brent was just speculating to me as the shareholder, I don't know, but you seem to be full of a lot of hot air. Do you even talk to Brent?