AGY LOM Equivalent, page-66

AFAIK there is no rule that says an investor or lender MUST see a PFS/DFS/BFS prior to providing funds to the company.
It's all about risk, as usual, and as you say, PROVEN and demonstrable production processes cannot be beaten, and then the main complementary puzzle piece is the reserves.. which can be defined in various ways totally separate to a traditional PFS/DFS/BFS process.

Satisfy the govt with whatever info/studies they require (EIA etc), and satisfy investors/lenders with whatever info studies they require. Simple!

AGY: doing things differently since 2016



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