any finance deal will be better than , page-4

I think they are trying to sort it out what is the best way to go.
Regarding their financing they have amended their agreement, from document:
2014-03-31-CPT-Annual-Information-Form-Dec.-31-2013.pdf
page: 8
"...In addition, the amended terms of the EIG Facility provide for compensation ranging between US$7 million to US$12 million that will be payable to EIG in the event that EIG sizes the debt below US$250 million or not at all, and either EIG or Coalspur withdraws from the Facility prior to any further draw down of the Facility (which is now permissible under the revised terms). If EIG sizes the debt over US$250 million, the make whole provisions of the original agreement remain unchanged."

So it seems to me EIG wants to lend them min. 250mil.
When I asked Rayan why wouldn't they borrow the whole amount from EIG eg. 500mil he told me that they have other (better) financing alternatives.

The fact there is a 'penalty' levied on CPT if EIG does not provide over $250 MM in financing is a vote of confidence from EIG that the assets cover the financing risk and that the project will be able to provide positive cash flow to service the debt.

If others are lining up to provide even better financing terms, then that is another vote of confidence in the project.