nickel mine gets ready to rock, page-3

MG - a BFS is produced to estimate the approporiate (optimal?) amount of debt funding for the project, and confirm that cash flow generated by the project is sufficient to repay interest and the total debt.

A company usually produces one of these initally for consideration by a number of potential lenders. These lenders could be vanilla banks, investment banks or large industry players (e.g. Chinese mining companies).

Following discussions with the various potential lenders, it is common for a short list of lendersto be invited to discuss facility terms in more detail. At this stage the company would most likely be asked to produce variations of the BFS, stress tested for changes in production, nickel prices, production costs, interst rates, etc.

So in answer to your question, typically one BFS gets produced and make public. All other variations are usually confidental between the potential lenders and the company.

Anyway, that's been my experience working in the finance industry.