Stage

Main Tasks

Goals

Risk Factors

Preliminary exploration

Field study, physical and chemical exploration, sampling and charting, pre and general exploration

Screen target drilling zone

High risks, investment returns and contingency

Pre-feasibility Study

Sampling study of ore body layout and scale, pattern of mineralization, finalize geology, environment and mining conditions

Define ore body scale and grade, estimate reserve and select mining plan

High risk and investment return, uncontrollable future economic benefit

Feasibility Study

Economical assessment, resources evaluation, infrastructure planning, market forecast

Detailed mining planning, investment and return estimate

Average risk, gradual confirmation of the resource quantity

Mine Construction

Capital construction, construction observation

Infrastructure construction and equipment installation

Low risk, high capital demand

Production and Operation

Mine commissioning, daily operation management

Obtain cash flow, routine management

Low investment risk, main risks arise from management, economic trend and political changes