RE:PFS - engineering but also finacial analysisInteresting post, Margin321!
But just to be clear, the principal purpose of the PFS is to ugrade the PEA in order that the mineral deposit can be categorised as a Resource, which is segreagted into Measured, Indicated, and Inferred. Completion of the PFS is scheduled for Spring 2023. This study encourages equity investors but not lenders.
The FS is a much more detailed study that converts the Reosurce to Reserve i.e. Proven, Probable and Possible. It also provides potential lenders with the information that will allow them to make loans to FL. Debt is typically much cheaper than equity financing since it reduces shareholder dilution. To the best of my knowledge, FL has not mentioned the timing of the FS but it probably is a couple of years out.
In my humble opinion, FL reporting could be substantially improved.