Feasibility Study

Stage 5 of 8

Feasibility Study — bankable-grade engineering and economics detailed enough to support a construction financing decision.

A Feasibility Study (FS) is bankable-grade: detailed enough that a bank, streaming/royalty company, or major partner could use it to underwrite construction financing. It finalizes mine design, metallurgical recovery, capital and operating costs, and permitting requirements to a level of confidence well beyond a PFS. Reaching a positive feasibility study is typically the last major technical milestone before a company commits to building the mine.