Ann: Zavalievsky Graphite Wins Horizon Grant, page-2

“Securing non-dilutive funding, which accelerates the commercialization of our long-life natural
graphite anode, is a part of our strategy and we are thankful to European Union for the award."

A million bucks over four years for ZG is not to be sneezed at but I've highlighted in bold the part that appeals to me most and is obviously at the forefront of Prashant's mind. Further dilution at rock bottom levels is a concern for every shareholder and PC has shown that he is aware of this.
Cap raisings are synonymous with dilution but proposed Bunyu funding has always included general working capital as well as the much waited on mine construction funds. I also wouldn't think there would be too many willing participants between now and Bunyu funding anyway as we are in need of a big dose of credibility just as much as funding at this point. It's just a shame we'll be coming off such a low base but so be it. Let's hope that PC's timing works out for us all.