DFS and BFS is the same thing.Often the term “bankable” proceeds...

DFS and BFS is the same thing.

Often the term “bankable” proceeds the term feasibility study. Adding this term simply means that the level of effort that has been incorporated into the study is sufficient for outside financing, provided the project is feasible. Typically “bankable” means an overall accuracy level of +/- 15 percent on the feasibility study.

It more or less speaks to the accuracy or viability of the economics of the mine.Adding “bankable” to the title does not guarantee it is feasible, but merely dictates a level of accuracy. In our case the scoping study nailed down the economics to @ 30% accuracy? (At metals pricing way lower than today's spot) With this report we had a level of confidence to move to the DFS or BFS.

One of the reasons this process has taken so much time, is we have done a significant amount of metallurgy and other engineering work in house. To enhance the accuracy of the final report and save money paying other contractors. John Skeet is a metallurgist and other geologists on staff have contributed to this process. The end result is it enhances the prospects of financing and perhaps the timing of raising the funds?