"There are a lot of technical financing issues that are over my head, but I find it intersting that MAA is trying to get the whole 1.2 million out there instead of 600K and then 600K."

I agree with what you are saying, but I think that you need to revist your numbers....

its not a 1.2 Million deal... its a 1.2 BILLION dollar deal. I'm thinking that the 1.2 million that you saw might be the "1.2 million Tonnes per year"

3. Term sheet for debt Taken from the PDF

Of high importance to MagIndustries is that Complant undertakes to source debt financing for 100 per cent of the cost of the EPC contract. The indicative term sheet in the PDF provides for a secured construction loan of an amount up to $1.2-billion (U.S.), repayable over a minimum term of 10 years from commissioning, bearing interest at a rate approximately 200 basis points above the People's Bank of China's floating mid to long-term loan rate (currently posted at 6 per cent).

That might change things a little.

UB