FID is when everything is in place. Board meets when finance, equity & debt, all environmental approvals and any other pertinent requirements most notably as much conversion of resource to reserve as possible, usually greater than 75% and probably 100% measured and indicated. They are giving the project the sign-off.
It's like in that movie IKE (Eisenhower), with the Normandy landings. He had two date choices but the first one was windy.
He says pionting two hands to the windows, palms parallel - "I say we go!"* i.e. A final positive decision.
All IMVHO
* The rest is history.
Ann: Hog Ranch Gold Trend extended, page-20
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