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Stage 5: Pre-developmentIllustrative example

Project Fjord-04

This is an invented example. It is not a real project and not an offer.

Summary

An invented example of a pre-development project. A pre-feasibility study supports a reserve estimate and the permitting route is defined.

The owner is exploring a royalty to help fund the next study. This listing is illustrative and does not describe a real project.

  • Pre-feasibility study complete
  • Reserve estimate supported by the study
  • Permitting pathway defined
  • Grid power and port access

Stage classification

Stage 5: Pre-development, PFS complete, reserves declared

In short: A completed pre-feasibility study supports a reserve estimate, the event that starts stage 5. The feasibility study, the main permits and construction finance are still ahead.

What puts it at this stage

  • Pre-feasibility study complete
  • A reserve estimate supported by the study, under a CRIRSCO-aligned code
  • A defined permitting pathway and an exploitation licence valid to 2040

What keeps it from stage 6

  • No feasibility study yet
  • The main construction and operating permits are still to be granted along that pathway
  • Construction finance not yet arranged

What would move it up

  • A feasibility study, the main permits and a funded build decision move it to stage 6. The royalty on offer would help fund the next study

What could move it back

  • Capital costs often rise from PFS to FS, and permitting delays or weaker metal prices could shrink the reserve or push back the build decision

Read about stage 5 or see the full stage guide.

  1. Stage 1: GrassrootsMapping and surface sampling, up to the first drill holes.Prospectors, junior explorers
  2. Stage 2: Discovery drillingDrilling has intersected mineralization; no resource estimate yet.Junior explorers
  3. Stage 3: Maiden resourceFrom the first resource estimate up to a published PEA.Few natural funders (the gap)
  4. Stage 4: Resource upgradeFrom the PEA to the PFS: infill drilling upgrades Inferred to Indicated.Few natural funders (the gap)
  5. Stage 5: Pre-developmentFrom the PFS to the build decision: Measured drilling, the feasibility study, permits and financing.Mid-tier miners, strategic partnersPlatform focus
  6. Stage 6: Development and productionFrom the build decision through construction and ramp-up to an operating mine.Majors, banks, streaming and royalty companies

Location and access

Trøndelag, Norway

The shaded circle is deliberately imprecise. Exact locations and licence numbers are not published.

The full listing is for registered investors

Create a free account and sign this project's NDA to see the rest of the listing and its data room.

  • Screening: ownership, title and encumbrances
  • Geology, drilling and resources
  • Engineering, studies and reserves
  • Permitting
  • Deal terms and use of funds
  • Verification
Create a free accountSign inRead the NDA first

Lode Exchange publishes educational material only. Nothing on this site is an offer, solicitation or investment advice. Mineral exploration is high risk and most projects fail; investors could lose all of their capital. Project listings are teasers, not offers, and examples and figures marked illustrative do not describe real projects.

Deal terms on this page are indicative, provided by the owner, and not an offer. Any deal is subject to due diligence and final documentation. The deal calculator uses the reader's own assumptions; its results are illustrations, not valuations by Lode Exchange. Registering interest is not an application to invest.