Rincon -"Use it or lose it!", page-144

Important to remember by the time we're trying to raise funds for stage 3 at least stage 1 and stage 2 will be producing cashflow that will go towards stage 3 along with making it easy to secure lower interest debt that will be easily paid back due to profit margins we can only expect to get better as prices increase. I'm all for strategic partnerships and having other companies onboard but not if it destroys the capital structure with dilution and giving away large %'s of the company. Debt negates this and keeps AGY free to market / sell their product to those with the highest bid when we get to that point in the operation. Like you said management probably have a plan already.