raising capital & dilution

For me the best option for MAK to raise capital is to borrow (but of course in these times it is easier said than done)

BUT then there is the issue of Dilution
And no one wants that


Given that most believe if/when MAK get into production the earnings will more than justify the current SP

AND

I would imagine that a large proportion of existing shareholders believe that the funding the capital is a good investment

So if there were a a large share issue to existing shareholders (at some discount) many would take it up e.g for every current share buy upto 3 additional shares for each for the price of 2.5 a lot of the capital could be raised from existing share holding (and enables them to avoid dilution)

In addition, where necessary, some could be borrowed or raised from the institutions.

These are just my thoughts but I would be interested what others think is the best way to raise capital