RE: RE: multiple PP by ErnestoI can think of a few reasons.
1)Borrow when you need it. If you have a Line of Credit with a bank, do you go and borrow against it for the maximum amount just to transfer it to your savings/chequing acct where it could sit as cash for a while? No, you borrow against the LOC as you need it.
2)CUU has always said that the exact timing of any offer/decision by Teck is unknown to them, so don't get over-committed in the funding part
3)The Lender may have money in other places that needed to be shuffled / freed up. I am pretty sure he committed verbally at least prior to the PP to the complete funding package they were thinking about, but its only wise to dole it out when its needed
Fire