Thank you to all who made this easy to understand. I came up with an anology which I think fits to a tee what this is about.

Daughter wants to buy a car.....( Noront wants to build a mine )

The Bank has the money and wants the car as security 'til the loan is paid off

(RCF lent Noront the money, but has a lein on the property to secure the loan until paid off )

Mom and Dad will provide money in case she can't, for whatever reason make a payment or the Bank wants the loan paid off. Mom and Dad don't want to lose he car!

(Noront has a Mom & Dad type of company with the cash to make a quick payment if necessary )

How's that?

96klite