Ann: Greatcell Solar - Subscription Update, page-21

RC's position has consistently been to minimise dilutionary funding. That's one reason for reluctance to resort to CRs too often. Also, the fact is that CRs are starting to give diminishing returns as retail investors in particular are getting fatigue. That's another reason. Finally, while the latest funding proposal does admittedly involve dilution due to the entry of the Turkish entity, it's probably the amount of further funding that it unlocks (Turkish govt grant).

But I agree that it's by no means certain and that there's plenty of sovereign risk where Turkey is involved. I remain optimistic but it has been a trying period of bring up in the air.