stu, credit card lending is usually banks' least profitable business, because of administration costs and bad debts. That's why the rates are so high.
You've hit the nail on the head with "risk". That's why institutions are debt averse for exploration companies, and why most CRs for speccy miners are equity rather than debt. Regardless as to how good WM is, history hasn't been kind to junior exploration companies, with them continually missing deadlines and coming back for more capital, ore grades failing to live up to expectations, miscalculations as to how much capital IS needed and even when they start production having requirements for more working capital than they expected.
You'll never get 10% for any amount of money from an Aussie bank - that's just a silly number to throw around.
CDU Price at posting:
$3.42 Sentiment: Sell Disclosure: Not Held
