Resource Project Feasibility and Financing Training Course

Participants can assess the resource and production assumptions that underpin a feasibility case.

• CRIRSCO resource classifications and confidence levels for investment decisions
• Ore reserve conversion factors, dilution, recovery and cut-off grade
• Production profiles derived from mine plans, wells or resource schedules
• Grade, quality and specification assumptions affecting revenue realisation
• Independent competent person reports reviewed for material qualifications
• Assumptions register linking technical inputs to financial model drivers

Participants can distinguish feasibility study stages and specify the evidence required at each gate.

• Scoping, pre-feasibility and definitive feasibility study decision purposes
• AACE cost estimate classes matched to project definition maturity
• Study work breakdown structure covering technical, commercial and permitting streams
• Basis of design document controlling engineering assumptions and revisions
• Independent peer review scope for material technical uncertainties
• Stage-gate governance with approval criteria, owners and decision records

Participants can compare development options using technical, commercial and implementation criteria.

• Option screening matrix comparing capacity, technology, footprint and constructability
• Processing route selection using recovery, energy intensity and reagent consumption
• Infrastructure alternatives for power, water, roads, rail and ports
• Modular versus conventional construction assessed through schedule and cost
• Throughput scenarios aligned with resource depletion and market demand
• Value improvement workshops documenting assumptions, trade-offs and recommendations

Participants can develop capital cost and schedule inputs suitable for feasibility analysis.

• CAPEX breakdown by direct works, indirect costs and owner costs
• Quantity take-offs, vendor quotations and factored estimates compared carefully
• Contingency calculated from estimate maturity, risk exposure and uncertainty
• Escalation assumptions separated from contingency and foreign exchange effects
• Critical path method schedules linking engineering, procurement and construction
• Commissioning ramp-up profiles translated into production and revenue timing

Participants can translate operating plans and market assumptions into defensible revenue forecasts.

• OPEX drivers for labour, energy, consumables, maintenance and logistics
• Unit-cost curves used to benchmark operating competitiveness and downside resilience
• Commodity price deck construction using consensus, forward curves and scenarios
• Offtake terms covering volume commitments, pricing formulas and quality adjustments
• Treatment, refining and transport charges incorporated into netback calculations
• Working capital schedules for inventories, receivables, payables and spares

Participants can model fiscal obligations and assess their effect on project economics.

• Royalties calculated on gross revenue, net smelter returns or profits
• Corporate income tax schedules incorporating loss carry-forwards and allowances
• Production sharing mechanisms allocating cost recovery and profit products
• Stability clauses and fiscal change risks assessed for bankability
• Government equity participation modelled through dilution, carried interest or funding
• EITI reporting concepts connecting payments, revenues and public accountability

Participants can construct an integrated financial model from technical and commercial assumptions.

• Model architecture separating inputs, calculations, outputs and error checks
• Time-series schedules linking production, prices, costs, taxes and capital
• Three-statement model connecting income statement, balance sheet and cash flow
• Sources and uses schedule reconciling development costs and funding
• Circularity management for interest, tax and reserve account calculations
• Audit checks testing balances, signs, timing and formula consistency

Participants can evaluate project value using discounted cash-flow measures and decision criteria.

• Free cash flow defined before and after financing decisions
• Weighted average cost of capital estimated from risk-adjusted inputs
• NPV and IRR calculated using consistent discounting conventions
• Economic versus financial analysis distinguished for public investment decisions
• Real options considered for phased development, expansion and abandonment
• Hurdle rates aligned with sponsor strategy, country risk and project maturity

Participants can quantify the effects of uncertainty on value, liquidity and financing capacity.

• Tornado charts ranking value drivers by NPV sensitivity
• Scenario analysis combining price, grade, recovery, cost and schedule changes
• Monte Carlo simulation producing probability distributions for project value
• Break-even analysis identifying prices, grades and costs at viability thresholds
• Downside cases testing covenant headroom and minimum liquidity requirements
• Sensitivity matrices communicating material interactions to decision-makers

Participants can identify, quantify and allocate material resource-project risks.

• Risk breakdown structure covering resource, technical, market and political exposures
• Probability-impact scoring supplemented by quantitative cost and schedule analysis
• Risk register assigning owners, treatments, triggers and residual ratings
• Allocation principles placing risks with parties best able to manage
• Force majeure, change-in-law and stabilization clauses analysed for consequences
• Risk-adjusted contingency linked to quantified uncertainty and mitigation actions

Participants can incorporate environmental, social and closure obligations into project feasibility and finance plans.

• IFC Performance Standards applied to assessment, management and stakeholder engagement
• Environmental and social impact assessment scoping for material project impacts
• Free, prior and informed consent principles considered for affected communities
• Biodiversity, water and resettlement risks translated into cost allowances
• Mine closure plans costed with rehabilitation schedules and security mechanisms
• Grievance mechanisms designed with accessible channels, records and response timelines

Participants can determine whether a resource project meets core project-finance bankability tests.

• Non-recourse finance compared with corporate borrowing and public funding
• Special purpose vehicle roles, ownership rights and governance arrangements
• Bankability assessed through predictable cash flows and enforceable contracts
• Lenders' technical, legal, insurance and environmental due diligence requirements
• Direct agreements protecting lenders' notice, cure and step-in rights
• Security package covering shares, accounts, contracts and project assets

Participants can size debt and compare financing structures for a resource development.

• Debt service coverage ratio calculated from cash available for debt service
• LLCR and PLCR used to assess long-term lender repayment protection
• Debt sculpting aligned with forecast cash flows and coverage targets
• Reserve accounts structured for debt service, maintenance and contingencies
• Equity returns measured through IRR, distributions and dilution effects
• Blended finance options assessed for concessionality, risk and governance

Participants can select PPP structures for infrastructure supporting resource developments.

• PPP suitability screening for rail, ports, power and water assets
• Concession, availability-payment and user-charge models compared against revenue risks
• Government support agreements defining guarantees, land access and approvals
• Viability gap funding assessed against affordability and value-for-money requirements
• Demand risk shared through take-or-pay, minimum revenue and anchor contracts
• Interface agreements coordinating resource sponsors, utilities and infrastructure operators

Participants can identify the contract package required to support project implementation and financing.

• EPC, EPCM and construction management contracts compared for risk transfer
• Offtake agreements tested for credit quality, term and termination rights
• Operations and maintenance agreements aligned with performance guarantees
• Supply contracts addressing fuel, power, water and critical inputs
• Completion tests defining physical completion, performance and financial completion
• Claims prevention through change control, notices and contemporaneous records

Participants can plan a procurement process that tests market interest and protects public value.

• Market sounding questions testing investor appetite, constraints and risk preferences
• Request for qualifications criteria assessing technical, financial and delivery capacity
• Request for proposals requirements linking output specifications and evaluation methods
• Bid evaluation models combining price, quality, risk and financing credibility
• Competitive dialogue used where technical solutions require structured clarification
• Negotiation protocols maintaining auditability, confidentiality and delegated authority

Participants can prepare a lender due diligence plan and financing documentation checklist.

• Due diligence workstreams coordinated across technical, legal, financial and environmental advisers
• Data room index structured around permits, contracts, models and reports
• Independent engineer review focused on design, schedule, costs and completion
• Equator Principles categorisation informing environmental and social review scope
• Term sheet provisions covering pricing, tenor, covenants and conditions precedent
• Financial close checklist tracking approvals, legal opinions and security perfection

Participants can manage financing negotiations and governance decisions among public and private stakeholders.

• Negotiation mandate defining objectives, reservations and approval boundaries
• Issue matrices separating commercial positions, legal terms and technical dependencies
• BATNA analysis preparing responses to financing and concession alternatives
• Governance calendar aligning board, cabinet, lender and sponsor approvals
• Conflict-of-interest controls for public officials, advisers and procurement teams
• Decision logs recording evidence, dissenting views and approved actions

Participants can build, review and present a complete resource-project feasibility and financing case with a defensible investment recommendation.

• Consolidate technical, commercial, fiscal and environmental assumptions into one case
• Complete integrated cash-flow model, valuation, debt sizing and sensitivities
• Prepare risk register with mitigations, allocations and residual exposures
• Recommend financing structure, funding sources and required government commitments
• Review investment memorandum against lender and investment committee criteria
• Present conclusions, defend assumptions and respond to stakeholder challenge