"hmmm doesnt sound very good when the banks are trying to share there loans..."
Huh? Near 100% of major loans to resource companies are split between dozens of banks. Sometimes one bank will take it on and then resell the loan to many others, as Merrils/Bank of America recently did, or sometimes a syndicate is set up to finance projects, as has been mentioned. In the most recent loan-raising by Merrills, it was considered a vote of confidence that Merrills actually undewrote the loan themselves. In other words, they regard default as low-risk.
I'm surprised that you are able to give us opinions on FMG, if you are not familiar with basic financing of major projects.
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