Comparison to PFSA Pre-Feasibility Study (PFS) was completed for...

Comparison to PFS
A Pre-Feasibility Study (PFS) was completed for Stage One in 2009. Since then the scope of the
Project has changed with the inclusion of the Nabeba mine in the Republic of Congo and the
associated rail spur line. These extra scope items added approximately US$594M to the base cost.
Owner?s costs were not included in the PFS which adds another US$455M. Therefore an 8% price
increase is seen in direct comparison from the PFS to the DFS.
A comparison of the PFS to the DFS is illustrated below.