What Makes a Feasibility Study Bankable, Not Just Complete
There's a difference between a feasibility study that ticks boxes and one that actually gets funded. Here's what investors are really reading for.
A feasibility study can satisfy every technical checklist and still fail to raise a dollar. Investors aren't reading for completeness — they're reading for confidence that the numbers will survive contact with reality.
Sensitivity, not just a base case
A single-scenario financial model tells an investor you haven't stress-tested your own assumptions. The studies that get funded show how the project performs across a realistic range of commodity prices, capex overruns, and ramp-up delays — and are honest about where the project breaks.
Traceable assumptions
Every material assumption — strip ratio, recovery rate, logistics cost — needs a clear, defensible source. Vague or unreferenced numbers are the fastest way to lose credibility with a technical reviewer.
A management team investors can picture executing
Technical merit gets you a meeting. Execution credibility gets you a term sheet. The strongest feasibility studies pair the numbers with a clear-eyed delivery plan that shows the team understands what happens after funding closes.