"The loan security forms part of the contractual negotiations to...

"The loan security forms part of the contractual negotiations to allow Santa Barbara to expand its production operations, award drilling contracts for JORC resource estimates and commence detailed scope of engineering works for its port locations close to the mines."

The loan is very specific alright. PT mentioned elsewhere that the Shougang loan does not include the salaries of ady staff.

Its a strange loan alright! A bit like your home lender sending the boss and staff down to visit your new home and tell you exactly what you are going to put in it and where the hills hoist goes.

But I suppose, after the greedy behaviour of bhp & rio, China no trust Aussie miner anymore!

cheers...