The point I have taken from the announcement is, any lender of...

The point I have taken from the announcement is, any lender of funds, first looks at the risk/ reward. ( interest ) and prices accordingly, security, and ability to repay loan.

These guys aren't stupid, and the terms of the facility should give holders some comfort of how secure their investment is. A certain amount of disclosure, not yet available to share holders,would have had to be made available to the bank to secure a loan, on such attractive terms, and I would expect an announcement anytime soon. Regarding off take,and expected cash flow. WMs stance on not spending millions on a BFS seems to be a smart move.