{
 "name": "DFI Technical & IE-Readiness Screen",
 "scope_note": "Per-asset technical / Independent-Engineer-readiness screen over the 13-asset COI-clean DFI financeability pipeline. A DFI will not lend without an IE sign-off, and the gate before that is study maturity: stage (scoping/PFS/DFS), currency (is it the current plan or superseded), author, resource confidence (Measured & Indicated vs Inferred; reserves), and whether an IE / lender technical review has run. Honest spread: recent-DFS / in-construction assets (Assafou 2026, Doropo Dec-2025, Kone, Kurmuk, Twin Hills, Nyanzaga) are financing-ready on this axis; Kokoseb (scoping-only, Inferred-heavy), Kalana (2021 PFS, stalled) and Colluli (2015-17 studies under a prior owner) are not. Each cell is Sourced / Derived / Absent / N/A. NOTE ON THE IE AXIS: no Independent-Engineer appointment is confirmed for any asset \u2014 IE engagement is a post-this-stage, lender-driven step, so the ie_status cells are mostly Absent or Derived. This gate screens readiness-FOR an IE (study maturity), not IE completion.",
 "feed_version": "v2.57.0",
 "as_of": "2026-06-29",
 "standard_spine": "NI 43-101 / JORC study stages \u00b7 lender Independent Engineer \u00b7 CIM/JORC resource confidence",
 "three_state": "Sourced (named disclosure) \u00b7 Derived (inferred / desk-level, method named) \u00b7 Absent (named, never filled) \u00b7 N/A (axis does not apply)",
 "counterparty_disclosure": "Afrimintel has no commercial relationship with any operator, financier, DFI or ECA named on this page. This screen is self-produced from public primary and authoritative secondary sources and Afrimintel's published data layer; no party named has reviewed, endorsed, or been informed of it.",
 "coi_screen": "COI-clean pipeline: no DRC, Rwanda or Great Lakes asset. Data-layer screen only \u2014 no editorial opinion on any operator, financier or jurisdiction.",
 "counts": {
  "total": 59,
  "dfs_or_construction": 40,
  "pre_dfs_or_stale": 19
 },
 "assets": [
  {
   "id": "assafou",
   "name": "Assafou",
   "country": "Cote d'Ivoire",
   "operator": "Endeavour Mining",
   "study_stage": {
    "value": "Definitive Feasibility Study \u2014 published 2026 (current)",
    "state": "Sourced",
    "source": "Endeavour Mining project page"
   },
   "study_author_date": {
    "value": "Endeavour DFS, 2026 (PFS Dec 2024 precursor)",
    "state": "Sourced",
    "source": "Endeavour, 11 Dec 2024 / 2026 DFS"
   },
   "resource_confidence": {
    "value": "Probable reserves ~4.1Moz; Indicated ~4.6Moz at 1.95 g/t",
    "state": "Sourced",
    "source": "NS Energy / Endeavour"
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "No lender's Independent Engineer engagement sourced; pre-financing."
   },
   "screen": "DFS-current (2026), reserves stated \u2014 IE not yet sourced; among the most technically-ready"
  },
  {
   "id": "doropo",
   "name": "Doropo",
   "country": "Cote d'Ivoire",
   "operator": "Resolute Mining",
   "study_stage": {
    "value": "Updated DFS \u2014 Dec 2025 (Lycopodium, building on the 2024 Centamin DFS); 55% more ore, longer life",
    "state": "Sourced",
    "source": "Resolute updated DFS, Dec 2025"
   },
   "study_author_date": {
    "value": "Lycopodium DFS, Dec 2025 (Centamin DFS Jul 2024)",
    "state": "Sourced",
    "source": "Miner.africa, 16 Dec 2025"
   },
   "resource_confidence": {
    "value": "P&P reserves ~1.88-2.2Moz; M&I restated +~1Moz in 2025",
    "state": "Sourced",
    "source": "NS Energy / Resolute"
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "FID approved; lender's IE not sourced."
   },
   "screen": "DFS restated Dec-2025 (current), FID approved \u2014 technically ready; IE not sourced"
  },
  {
   "id": "kone",
   "name": "Kone",
   "country": "Cote d'Ivoire",
   "operator": "Montage Gold",
   "study_stage": {
    "value": "Definitive Feasibility Study (NI 43-101); M&I increased to 5.88Moz",
    "state": "Sourced",
    "source": "Montage Gold disclosure"
   },
   "study_author_date": {
    "value": "Montage NI 43-101 DFS",
    "state": "Sourced",
    "source": "Montage Gold"
   },
   "resource_confidence": {
    "value": "Measured & Indicated ~5.88Moz",
    "state": "Sourced",
    "source": "Montage Gold"
   },
   "ie_status": {
    "value": null,
    "state": "Absent"
   },
   "screen": "DFS-stage, M&I 5.88Moz \u2014 technically advanced; IE not sourced"
  },
  {
   "id": "kurmuk",
   "name": "Kurmuk",
   "country": "Ethiopia",
   "operator": "Allied Gold (KGM ~70%)",
   "study_stage": {
    "value": "Combined feasibility study (Dish Mountain + Ashashire) Dec 2022; NI 43-101 TR 2023; now in construction",
    "state": "Sourced",
    "source": "Allied NI 43-101 TR (minedocs.com/27/Kurmuk-TR-06092023.pdf)"
   },
   "study_author_date": {
    "value": "Allied / Lycopodium FS, Dec 2022; NI 43-101 TR, 2023",
    "state": "Sourced",
    "source": "mining-technology / Allied"
   },
   "resource_confidence": {
    "value": "Proven & Probable reserves 2.7Moz at 1.41-1.53 g/t",
    "state": "Sourced",
    "source": "mining-technology / Allied"
   },
   "ie_status": {
    "value": "Construction-stage with EPCM (DRA) + mining contractor (Mota-Engil) mobilised \u2014 lender/stream technical review implied by the Wheaton stream close",
    "state": "Derived",
    "source": "DRA / Allied; Wheaton stream Dec 2024",
    "note": "Stream financier ran its own technical DD; full IE appointment not separately sourced."
   },
   "screen": "FS-complete (2022) + in construction, contractors mobilised \u2014 technically de-risked; reserves 2.7Moz"
  },
  {
   "id": "twin-hills",
   "name": "Twin Hills",
   "country": "Namibia",
   "operator": "Shanjin International (acquired Osino)",
   "study_stage": {
    "value": "DFS Jun 2023 (Lycopodium / DRA-SENET, NI 43-101); now in construction",
    "state": "Sourced",
    "source": "Osino DFS, GlobeNewswire 12 Jun 2023"
   },
   "study_author_date": {
    "value": "Lycopodium / DRA DFS, Jun 2023 (pre-Shanjin)",
    "state": "Sourced",
    "source": "Osino DFS"
   },
   "resource_confidence": {
    "value": "P&P reserves 2.15Moz at ~1.0 g/t (PFS/DFS basis)",
    "state": "Sourced",
    "source": "Osino"
   },
   "ie_status": {
    "value": null,
    "state": "Absent"
   },
   "screen": "In construction (current plan being executed) \u2014 financing-ready by construction status; the 2023 DFS predates Shanjin's redesign, so the current construction basis governs, not the 2023 economics"
  },
  {
   "id": "ngualla-ree",
   "name": "Ngualla (rare earths)",
   "country": "Tanzania",
   "operator": "Mamba / Peak Rare Earths 84% / GoT 16%",
   "study_stage": {
    "value": "Bankable feasibility study completed (REE), subsequently optimised",
    "state": "Derived",
    "source": "Peak Rare Earths disclosure",
    "note": "BFS done; vintage and any restatement under Shenghe not separately sourced this cycle."
   },
   "study_author_date": {
    "value": null,
    "state": "Absent"
   },
   "resource_confidence": {
    "value": null,
    "state": "Absent",
    "note": "Reserves not sourced this cycle \u2014 the DFS/BFS stage rests on disclosure of a completed study, not on sourced reserve figures here."
   },
   "ie_status": {
    "value": null,
    "state": "Absent"
   },
   "screen": "BFS-stage (REE), vintage not confirmed \u2014 moderate technical readiness; resource/IE not sourced this cycle"
  },
  {
   "id": "ewoyaa",
   "name": "Ewoyaa (lithium)",
   "country": "Ghana",
   "operator": "Atlantic Lithium (MIIF state equity)",
   "study_stage": {
    "value": "Definitive Feasibility Study completed; described as one of the most advanced pre-construction hard-rock lithium assets",
    "state": "Sourced",
    "source": "Atlantic Lithium / Vaultz, Sep 2025"
   },
   "study_author_date": {
    "value": "Atlantic Lithium DFS",
    "state": "Sourced",
    "source": "Atlantic Lithium"
   },
   "resource_confidence": {
    "value": "JORC Mineral Resource 36.8Mt at 1.24% Li2O",
    "state": "Sourced",
    "source": "Atlantic Lithium, Sep 2025"
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "Pre-FID; lender's IE not sourced."
   },
   "screen": "DFS-complete, JORC resource stated, lease ratified \u2014 technically ready, pre-FID"
  },
  {
   "id": "baomahun",
   "name": "Baomahun",
   "country": "Sierra Leone",
   "operator": "FG Gold (private)",
   "study_stage": {
    "value": "Feasibility-stage (bankable): AFC/Afreximbank US$330m close implies a lender-reviewed FS",
    "state": "Derived",
    "source": "AFC/Afreximbank close, Dec 2025",
    "note": "Financing close implies a completed bankable FS and lender technical DD; the FS itself not separately sourced."
   },
   "study_author_date": {
    "value": null,
    "state": "Absent"
   },
   "resource_confidence": {
    "value": null,
    "state": "Absent"
   },
   "ie_status": {
    "value": "Lender technical diligence implied by the AFC/Afreximbank debt close",
    "state": "Derived",
    "source": "AFC/Afreximbank, Dec 2025"
   },
   "screen": "FS-bankable (inferred from debt close); lender IE implied \u2014 FS document not separately sourced"
  },
  {
   "id": "kabanga-ni",
   "name": "Kabanga Nickel",
   "country": "Tanzania",
   "operator": "Lifezone Metals / Tembo Nickel",
   "study_stage": {
    "value": "Definitive Feasibility Study completed (Class-1 nickel)",
    "state": "Derived",
    "source": "Lifezone Metals disclosure",
    "note": "DFS completion disclosed; author/date and restatement not separately sourced this cycle."
   },
   "study_author_date": {
    "value": null,
    "state": "Absent"
   },
   "resource_confidence": {
    "value": null,
    "state": "Absent",
    "note": "Reserves not sourced this cycle \u2014 the DFS/BFS stage rests on disclosure of a completed study, not on sourced reserve figures here."
   },
   "ie_status": {
    "value": "US DFC ran E&S diligence (ESIA on DFC portal); a DFI technical review is implied by DFC engagement",
    "state": "Derived",
    "source": "U.S. DFC portal, 2025"
   },
   "screen": "DFS-stage with DFC engaged \u2014 moderate-high readiness; study author/date and resource not sourced this cycle"
  },
  {
   "id": "nyanzaga",
   "name": "Nyanzaga",
   "country": "Tanzania",
   "operator": "Perseus Mining 80% / GoT 20%",
   "study_stage": {
    "value": "DFS-stage; Special Mining Licence granted Dec 2021; construction ~50%",
    "state": "Sourced",
    "source": "Perseus, 28 Apr 2025"
   },
   "study_author_date": {
    "value": "Perseus DFS (post-acquisition update)",
    "state": "Derived",
    "source": "Perseus disclosure"
   },
   "resource_confidence": {
    "value": null,
    "state": "Absent",
    "note": "Reserves not sourced this cycle \u2014 the DFS/BFS stage rests on disclosure of a completed study, not on sourced reserve figures here."
   },
   "ie_status": {
    "value": null,
    "state": "Absent"
   },
   "screen": "DFS-stage, SML granted, ~50% built \u2014 advanced; study detail/resource not sourced this cycle"
  },
  {
   "id": "kokoseb",
   "name": "Kokoseb",
   "country": "Namibia",
   "operator": "Wia Gold 80% / Epangelo 20%",
   "study_stage": {
    "value": "SCOPING study only (Sept 2025); DFS targeted H2 2026 \u2014 earliest-stage in the pipeline",
    "state": "Sourced",
    "source": "Wia Gold Q3-2025 report"
   },
   "study_author_date": {
    "value": "Wia Gold scoping study, Sept 2025 (Dhamana)",
    "state": "Sourced",
    "source": "Wia Gold / Dhamana"
   },
   "resource_confidence": {
    "value": "MRE 2.93Moz at 1.0 g/t \u2014 1.81Moz in the Indicated category and ~1.12Moz Inferred; no reserves stated yet (scoping stage)",
    "state": "Sourced",
    "source": "Wia Gold, Jul 2025",
    "note": "The binding technical-readiness gap is the scoping stage / absence of reserves, not the resource category split (which is majority Indicated)."
   },
   "ie_status": {
    "value": null,
    "state": "N/A",
    "note": "Pre-DFS; no IE stage yet."
   },
   "screen": "SCOPING-only, no reserves yet \u2014 LEAST technically ready; DFS not due until H2 2026"
  },
  {
   "id": "kalana",
   "name": "Kalana",
   "country": "Mali",
   "operator": "Endeavour Mining (SOMIKA 80% / Mali 20%)",
   "study_stage": {
    "value": "PFS only (Feb 2021) \u2014 never advanced to DFS; stalled under strategic review",
    "state": "Sourced",
    "source": "Endeavour PFS, 23 Feb 2021",
    "note": "A 2021 PFS that superseded the prior Avnel model; no DFS, and the project has not progressed \u2014 STALE for a financing decision."
   },
   "study_author_date": {
    "value": "Lycopodium PFS, Feb 2021 (Optiro MRE 30 Jun 2020)",
    "state": "Sourced",
    "source": "Endeavour PFS"
   },
   "resource_confidence": {
    "value": "MRE basis 2020; reserves at PFS confidence only",
    "state": "Sourced",
    "source": "Endeavour PFS"
   },
   "ie_status": {
    "value": null,
    "state": "N/A",
    "note": "PFS-stage, stalled; no IE."
   },
   "screen": "PFS-only (2021) and STALLED \u2014 well short of financing-ready; no DFS, no IE"
  },
  {
   "id": "colluli-potash",
   "name": "Colluli (SOP potash)",
   "country": "Eritrea",
   "operator": "CMSC \u2014 SRBG 50% / ENAMCO 50%",
   "study_stage": {
    "value": "DFS Nov 2015 + optimised FS Jan 2017 + FEED \u2014 all under prior owner Danakali",
    "state": "Sourced",
    "source": "AidData / Danakali",
    "note": "Studies are 2015-2017 vintage under Danakali, which exited to SRBG (2023); a current-owner restatement is not sourced \u2014 STALE."
   },
   "study_author_date": {
    "value": "Danakali DFS Nov 2015 / OFS Jan 2017 / FEED",
    "state": "Sourced",
    "source": "AidData / Danakali"
   },
   "resource_confidence": {
    "value": "JORC resource 1.289Bt for 260Mt contained SOP-equivalent",
    "state": "Sourced",
    "source": "Danakali (Proactive)"
   },
   "ie_status": {
    "value": "Historic AFC/Afreximbank lender technical DD (2019, Danakali-era)",
    "state": "Sourced",
    "source": "Mining Review, 5 Aug 2019",
    "note": "Danakali-era; not re-run under SRBG."
   },
   "screen": "DFS+FEED complete but 2015-2017 VINTAGE under prior owner (Danakali->SRBG) \u2014 readiness stale, restatement needed"
  },
  {
   "id": "kasiya",
   "name": "Kasiya (rutile-graphite)",
   "country": "Malawi",
   "operator": "Sovereign Metals (Rio Tinto 19.9%)",
   "study_stage": {
    "value": "Definitive Feasibility Study completed (2026), conforming to IFC Performance Standards for bankability \u2014 builds on Jan-2025 OPFS and the Pilot Mining program",
    "state": "Sourced",
    "source": "Sovereign DFS 2026 (Investegate)"
   },
   "study_author_date": {
    "value": "Sovereign-Rio Tinto Technical Committee DFS, 2026 (OPFS Jan 2025; PFS Sept 2023; DRA Global process engineering)",
    "state": "Sourced",
    "source": "Sovereign / mining-technology"
   },
   "resource_confidence": {
    "value": "M&I contained rutile 16.1Mt (1.65Bt @0.98% rutile); total resource 2.1Bt; probable reserve stated",
    "state": "Sourced",
    "source": "Proactive/Yahoo Mar 2026; mining-technology"
   },
   "ie_status": {
    "value": "Rio Tinto technical oversight to a final development decision (not a lender's IE)",
    "state": "Derived",
    "source": "Sovereign / Crux"
   },
   "screen": "DFS-current (2026), IFC-PS-conformant, M&I-backed \u2014 technically among the most ready; lender IE not yet engaged"
  },
  {
   "id": "etango",
   "name": "Etango (uranium)",
   "country": "Namibia",
   "operator": "Bannerman Energy / CNNC (CNOL) JV",
   "study_stage": {
    "value": "DFS Dec 2022 (Etango-8, JORC) + fully permitted (ML 250, Dec 2023) + early works underway; FEED complete",
    "state": "Sourced",
    "source": "Bannerman / World Nuclear News"
   },
   "study_author_date": {
    "value": "Bannerman DFS, ASX release 6 Dec 2022 ('Etango-8 Definitive Feasibility Study'); March-2024 expansion scoping study",
    "state": "Sourced",
    "source": "Bannerman ASX 6 Dec 2022"
   },
   "resource_confidence": {
    "value": "Ore Reserves ~61Mlb U3O8 (JORC 2012); Mineral Resource 207Mlb U3O8 at 100ppm cut-off",
    "state": "Sourced",
    "source": "Bannerman / Extractor"
   },
   "ie_status": {
    "value": "FEED complete; strategic-partner (CNNC) technical DD implied by the US$321.5m JV",
    "state": "Derived",
    "source": "Bannerman Feb 2026"
   },
   "screen": "DFS + full permits + early works + JORC reserves \u2014 technically ready (construction-stage); IE not separately confirmed"
  },
  {
   "id": "mahenge",
   "name": "Mahenge (graphite)",
   "country": "Tanzania",
   "operator": "Black Rock Mining 84% / GoT 16%",
   "study_stage": {
    "value": "DFS Oct 2018, enhanced DFS Jul 2019 (bankable confidence), FEED 2022, fully permitted ('shovel ready') + early works",
    "state": "Sourced",
    "source": "Faru Graphite / Mining Review"
   },
   "study_author_date": {
    "value": "Black Rock enhanced DFS, Jul 2019; FEED 2022",
    "state": "Sourced",
    "source": "Faru Graphite"
   },
   "resource_confidence": {
    "value": "Resource 212Mt @7.8% TGC; Ore Reserve 70Mt @8.5% TGC (~16.6Mt contained graphite), JORC",
    "state": "Sourced",
    "source": "smallcaps / Mining-technology"
   },
   "ie_status": {
    "value": "Lender conditions precedent being satisfied; DBSA/IDC technical diligence substantially complete",
    "state": "Derived",
    "source": "TanzaniaInvest / mining-technology"
   },
   "screen": "eDFS + FEED + permits + JORC reserves, 'shovel ready' with DFI technical DD done \u2014 technically ready"
  },
  {
   "id": "songwe-hill",
   "name": "Songwe Hill (rare earths)",
   "country": "Malawi",
   "operator": "Mkango Resources (GoM 10%)",
   "study_stage": {
    "value": "Updated NI 43-101 DFS (Mar 2026), building on the Jul-2022 DFS \u2014 among the very few African REE projects at DFS stage",
    "state": "Sourced",
    "source": "Mkango / Globe & Mail Mar 2026"
   },
   "study_author_date": {
    "value": "Mkango NI 43-101 DFS, Mar 2026 (filed on SEDAR+); Bara Consulting mine plan",
    "state": "Sourced",
    "source": "Mkango YE-2025"
   },
   "resource_confidence": {
    "value": "Proven & Probable reserve 18.1Mt @1.16% TREO; NdPr-rich basket",
    "state": "Sourced",
    "source": "Mkango DFS 2022/2026"
   },
   "ie_status": {
    "value": "U.S. DFC FEED funding implies technical review; lender IE for project finance not yet named",
    "state": "Derived",
    "source": "Mkango"
   },
   "screen": "Current NI 43-101 DFS (Mar 2026), reserves stated \u2014 technically ready (pre-construction); one of few African REE assets at DFS"
  },
  {
   "id": "tumas",
   "name": "Tumas (uranium)",
   "country": "Namibia",
   "operator": "Deep Yellow (Oponona 5% post-FID)",
   "study_stage": {
    "value": "2025 DFS (updated Mar 2026) + Mining Licence (Sep 2023); detailed engineering >65%; early works underway \u2014 'technically ready for development'",
    "state": "Sourced",
    "source": "African Mining Market Mar 2026"
   },
   "study_author_date": {
    "value": "Deep Yellow 2025 DFS (Ausenco detailed engineering; Cube Consulting ore-reserve estimate)",
    "state": "Sourced",
    "source": "Extractor / WNN"
   },
   "resource_confidence": {
    "value": "Ore Reserve 79.5Mlb U3O8 (298ppm); total resource 118.2Mlb U3O8 (255ppm); ~30-yr LOM",
    "state": "Sourced",
    "source": "WNN / African Mining Market"
   },
   "ie_status": {
    "value": "Independent Technical Expert engaged by Nedbank (Mandated Lead Arranger); DD underway on the 2025 DFS",
    "state": "Sourced",
    "source": "Extractor Jul 2025"
   },
   "screen": "DFS + ML + detailed engineering + lender's IE actively engaged \u2014 technically ready; FID price-gated (not a technical gap)"
  },
  {
   "id": "kangankunde",
   "name": "Kangankunde (rare earths)",
   "country": "Malawi",
   "operator": "Lindian Resources (RVR 67%->100%)",
   "study_stage": {
    "value": "Stage-1 Feasibility Study (Jul 2024) + FID (Q3 2025); now in construction (one of few African REE projects building)",
    "state": "Sourced",
    "source": "Mining Review / mining-technology"
   },
   "study_author_date": {
    "value": "Lindian FS Jul 2024 (Cube Consulting MRE; Orecraft plant; Mine Planning Services)",
    "state": "Sourced",
    "source": "NS Energy / Mining Review"
   },
   "resource_confidence": {
    "value": "Maiden Ore Reserve 23.7Mt @2.9% TREO (1% cut-off); resource 261Mt @2.14-2.19% TREO; 1.2Mt contained NdPr",
    "state": "Sourced",
    "source": "Lindian FS"
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "Commercially financed; no lender IE separately sourced."
   },
   "screen": "FS + FID + in construction, reserves stated \u2014 technically ready (construction-stage)"
  },
  {
   "id": "makuutu",
   "name": "Makuutu (heavy rare earths)",
   "country": "Uganda",
   "operator": "Ionic Rare Earths / RRM (~6% local)",
   "study_stage": {
    "value": "Stage-1 DFS (Mar 2023, signed off by independent competent persons) + ML granted + demonstration plant (Phase 1, Mar 2025)",
    "state": "Sourced",
    "source": "theassay / rare-earth-mining.com"
   },
   "study_author_date": {
    "value": "Ionic / RRM Stage-1 DFS, Mar 2023 (revised); DRA Global advising on growth",
    "state": "Sourced",
    "source": "Mining Review / Ionic"
   },
   "resource_confidence": {
    "value": "Maiden Ore Reserve (Stage 1, RL1693) 172.9Mt @848ppm TREO; total resource 532Mt @640ppm TREO; HREO/Sc-rich",
    "state": "Sourced",
    "source": "mining-technology / Ionic DFS"
   },
   "ie_status": {
    "value": "DFS signed off by independent competent persons; demonstration plant de-risks the flowsheet (scale-up data)",
    "state": "Derived",
    "source": "Ionic"
   },
   "screen": "DFS + ML + running demo plant + reserves \u2014 technically ready (pre-FID, financing-gated)"
  },
  {
   "id": "kobada",
   "name": "Kobada (gold)",
   "country": "Mali",
   "operator": "Toubani Resources ~90% / Mali 10%",
   "study_stage": {
    "value": "DFS (Oct 2024, Lycopodium; upscaled to 6Mtpa) + FID + construction commenced",
    "state": "Sourced",
    "source": "mining.com.au / Mining Review"
   },
   "study_author_date": {
    "value": "Lycopodium DFS, Oct 2024 (Orelogy, Knight Piesold, Entech, ABS Africa); MRE Jul 2024",
    "state": "Sourced",
    "source": "Toubani DFS"
   },
   "resource_confidence": {
    "value": "Ore Reserve 53.8Mt @0.90 g/t for 1.56Moz (JORC Probable); resource 78Mt @0.88 g/t for 2.2Moz (~2Moz Indicated)",
    "state": "Sourced",
    "source": "Mining Weekly / Toubani"
   },
   "ie_status": {
    "value": "Project-finance technical review implied (Endeavour Financial-led; debt sizing done)",
    "state": "Derived",
    "source": "Toubani Q4-2024"
   },
   "screen": "DFS + FID + in construction, reserves stated \u2014 technically ready (construction-stage)"
  },
  {
   "id": "banio",
   "name": "Banio (potash)",
   "country": "Gabon",
   "operator": "Millennial Potash (US DFC-backed)",
   "study_stage": {
    "value": "PEA complete; AACE Class-3 DFS IN PROGRESS (ERCOSPLAN, initiated Jan 2026, target H2 2026) \u2014 pre-DFS-complete",
    "state": "Sourced",
    "source": "Millennial / Proactive Jan 2026"
   },
   "study_author_date": {
    "value": "ERCOSPLAN DFS in progress (2026); PEA precursor",
    "state": "Sourced",
    "source": "Millennial Jan 2026"
   },
   "resource_confidence": {
    "value": "Measured & Indicated 2.453Bt @16.6% KCl + Inferred 3.559Bt @15.6% KCl \u2014 RESOURCE only; no reserves yet (DFS in progress)",
    "state": "Sourced",
    "source": "Millennial Jan 2026",
    "note": "Resource-stage; ore reserves await DFS completion."
   },
   "ie_status": {
    "value": "DFC-funded DFS by ERCOSPLAN (potash specialist); independent technical review via DFC's finance process to follow",
    "state": "Derived",
    "source": "Millennial / Proactive"
   },
   "screen": "Pre-DFS-complete \u2014 DFS in progress (ERCOSPLAN), large resource but NO reserves yet; earliest-stage in the batch"
  },
  {
   "id": "epanko",
   "name": "Epanko (graphite)",
   "country": "Tanzania",
   "operator": "EcoGraf / TanzGraphite",
   "study_stage": {
    "value": "Updated Bankable Feasibility Study (Feb 2026) completed in parallel with an Independent Engineers' Report (IER) \u2014 project-finance-grade",
    "state": "Sourced",
    "source": "EcoGraf / Globe and Mail"
   },
   "study_author_date": {
    "value": "METC-PaulSam JV BFS (Feb 2026); MRE by ERM; Ore Reserves by Intermine Engineers; IER complete",
    "state": "Sourced",
    "source": "Finanzwire / EcoGraf"
   },
   "resource_confidence": {
    "value": "Ore Reserve 16.7Mt @8.2% TGC (7.1Mt Proven + 9.6Mt Probable); 73,000 tpa for first 15 years",
    "state": "Sourced",
    "source": "EcoGraf BFS"
   },
   "ie_status": {
    "value": "Independent Engineers' Report (IER) COMPLETE \u2014 satisfies a key requirement for the KfW IPEX US$105m facility",
    "state": "Sourced",
    "source": "TanzaniaInvest Feb 2026"
   },
   "screen": "BFS + completed IER (project-finance-grade), Proven+Probable reserves \u2014 strongest technical readiness in the batch"
  },
  {
   "id": "dugbe",
   "name": "Dugbe (gold)",
   "country": "Liberia",
   "operator": "Pasofino Gold / HRL (GoL 10% free-carry)",
   "study_stage": {
    "value": "DFS completed Jun 2022 (DRA Global / SRK UK) \u2014 now STALE and BEING UPDATED (2025-26, MineScope gap analysis, Phase One done Aug 2025) for financing",
    "state": "Sourced",
    "source": "Pasofino / Resource World",
    "note": "2022 FS is being refreshed; treat 2022 economics as out-of-date."
   },
   "study_author_date": {
    "value": "DRA Global / SRK UK FS, Jun 2022; MineScope update in progress 2025-26",
    "state": "Sourced",
    "source": "Resource World / Pasofino"
   },
   "resource_confidence": {
    "value": "Mineral Reserve 2.76Moz (66Mt @1.30 g/t); M&I resource 3.3Moz; 14-yr LOM, 200koz/yr first 5yr",
    "state": "Sourced",
    "source": "Resource World / Pasofino"
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "Updated FS / lender IE pending."
   },
   "screen": "Reserve defined (2.76Moz) but the 2022 FS is STALE and being updated; not project-finance-current until the refresh completes"
  },
  {
   "id": "sanankoro",
   "name": "Sanankoro (gold)",
   "country": "Mali",
   "operator": "Cora Gold (EEA 29.9%) / Mali 10%",
   "study_stage": {
    "value": "Updated DFS (Sep 2025, New SENET/DRA Global) + FEED underway (target H2 2026, also by SENET)",
    "state": "Sourced",
    "source": "Mining Weekly / Director's Talk"
   },
   "study_author_date": {
    "value": "New SENET (DRA Global) updated DFS Sep 2025; financial modelling by Infinity Corporate Finance",
    "state": "Sourced",
    "source": "Director's Talk / Cora Gold"
   },
   "resource_confidence": {
    "value": "Probable Reserve 531koz @1.13 g/t (14.6Mt; +26% vs 2022); resource 1.04Moz @1.04 g/t; 10.2-yr LOM, 47-64koz/yr; 90.7% recovery",
    "state": "Sourced",
    "source": "Cora Gold Sep 2025 / Mining Weekly"
   },
   "ie_status": {
    "value": "DFS confirmed by Infinity Corporate Finance; lender IE would follow any senior-debt conversion",
    "state": "Derived",
    "source": "Director's Talk"
   },
   "screen": "Updated DFS + FEED underway, Probable reserve defined \u2014 technically ready (permitting-gated)"
  },
  {
   "id": "chilalo",
   "name": "Chilalo (graphite)",
   "country": "Tanzania",
   "operator": "Evolution Energy Minerals (ARCH cornerstone)",
   "study_stage": {
    "value": "Updated DFS with FEED incorporated (CPC Engineering); DFS review (Oct 2024) confirmed assumptions valid; FID-ready",
    "state": "Sourced",
    "source": "mining.com.au / Proactive"
   },
   "study_author_date": {
    "value": "Updated DFS (FEED by CPC Engineering, ex-Syrah/Balama); flowsheet overseen by Oliver Peters; reviewed Oct 2024",
    "state": "Sourced",
    "source": "theassay / Proactive"
   },
   "resource_confidence": {
    "value": "Probable Reserve 8Mt @10.5% TGC for ~836,000t contained; resource 26.9Mt @10.3% TGC (one of the world's highest-grade graphite deposits); 17-yr LOM",
    "state": "Sourced",
    "source": "mining-technology / TanzaniaInvest"
   },
   "ie_status": {
    "value": "Independent Technical Engineer (ITE) appointed by potential financiers; site visit completed",
    "state": "Sourced",
    "source": "TanzaniaInvest May 2023"
   },
   "screen": "DFS+FEED+ML, FID-ready, lender ITE engaged, highest-grade reserve \u2014 strong technical readiness (financing-gated)"
  },
  {
   "id": "mingomba",
   "name": "Mingomba (copper)",
   "country": "Zambia",
   "operator": "KoBold Metals 80% / ZCCM-IH 20%",
   "study_stage": {
    "value": "Pre-definitive-FS, but DEVELOPMENT COMMENCED \u2014 groundbreaking on shaft construction 29 Apr 2026 (President Hichilema officiating); definitive engineering/cost study expected early 2027; resource being formalised (no JORC/NI 43-101 reserve published yet); KoBold's first-ever mine build (explorer-to-operator execution risk)",
    "state": "Sourced",
    "source": "mining.com / World Bank ETM Roadmap",
    "note": "No FS yet; earliest-stage technical readiness in the screen."
   },
   "study_author_date": {
    "value": "KoBold (AI-led) since 2022 acquisition; 29 Apr 2026 groundbreaking marked the formal start of shaft construction; definitive engineering study (capex) due early 2027; no formal feasibility/reserve published yet",
    "state": "Sourced",
    "source": "World Bank ETM Roadmap / mining.com"
   },
   "resource_confidence": {
    "value": "Described as Zambia's largest copper discovery in a century, Kakula-like grade (>2% Cu) \u2014 but NO formal JORC/NI 43-101 reserve published yet (resource update in progress)",
    "state": "Sourced",
    "source": "mining.com / African Mining Market",
    "note": "Headline grade/scale qualitative; formal reserve pending."
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "Pre-DFS; no IE."
   },
   "screen": "PRE-DFS \u2014 world-class scale claimed but no FS or formal reserve yet; deep, water-bearing orebody; long-dated"
  },
  {
   "id": "phalaborwa",
   "name": "Phalaborwa (rare earths)",
   "country": "South Africa",
   "operator": "Rainbow Rare Earths (US-DFC/TechMet-backed)",
   "study_stage": {
    "value": "PEA complete; DFS IN PROGRESS (targeted 2026, delayed from 2025); pilot plant to validate the flowsheet \u2014 pre-DFS-complete",
    "state": "Sourced",
    "source": "bne IntelliNews / Ecofin",
    "note": "DFS repeatedly delayed; pilot validation ongoing."
   },
   "study_author_date": {
    "value": "Rainbow DFS in preparation (2026); ANSTO modelling the SX separation circuit; MRE (Jan 2025) by Rainbow",
    "state": "Sourced",
    "source": "Rainbow / MRE report"
   },
   "resource_confidence": {
    "value": "JORC MRE 35.0Mt @0.44% TREO (phosphogypsum stacks; 0.2% TREO cut-off, Jul 2024); NO ore reserves yet (DFS in progress); yttrium added Nov 2025",
    "state": "Sourced",
    "source": "Rainbow MRE / Ecora",
    "note": "Resource-stage; reserves await the DFS."
   },
   "ie_status": {
    "value": null,
    "state": "Absent",
    "note": "Pre-DFS; pilot-plant validation underway."
   },
   "screen": "PRE-DFS \u2014 strong metallurgy/IP and full-spectrum basket, but DFS (delayed to 2026) and reserves still pending"
  },
  {
   "id": "kola",
   "name": "Kola (potash)",
   "country": "Republic of Congo",
   "operator": "Kore Potash (97%)",
   "study_stage": {
    "value": "DFS (Jan 2019) + Optimisation (Jun 2022) + Optimised DFS (Feb 2025, reflecting the fixed-price EPC) + early works \u2014 most advanced potash asset in the screen, but financing-gated",
    "state": "Sourced",
    "source": "Kore Optimised DFS / bitget"
   },
   "study_author_date": {
    "value": "Kore Potash DFS Jan 2019; Optimisation Jun 2022; Optimised DFS Feb 2025 (post-PowerChina-EPC); restated MRE Feb 2025",
    "state": "Sourced",
    "source": "minedocs / Kore"
   },
   "resource_confidence": {
    "value": "Proved & Probable reserves (+ limited Inferred) supporting a 23-yr LOM at 2.2 Mtpa MoP; ~340Mt Inferred upside",
    "state": "Sourced",
    "source": "TipRanks / Kore Feb 2025"
   },
   "ie_status": {
    "value": "Fixed-price EPC (PowerChina) with delay/penalty provisions de-risks execution; lender IE would accompany financial close",
    "state": "Derived",
    "source": "World Fertilizer / Kore"
   },
   "screen": "DFS + Optimised DFS + fixed-price EPC + early works \u2014 technically the most construction-ready potash asset (financing-gated)"
  },
  {
   "id": "waterberg",
   "name": "Waterberg (PGM)",
   "country": "South Africa",
   "operator": "Platinum Group Metals Ltd / Implats / HJ / Mnombo(BEE)",
   "study_stage": {
    "value": "DFS (2019) + DFS UPDATE (effective 31 Aug 2024; filed SEDAR+ 9 Oct 2024); Mining Right granted (2021) \u2014 pre-construction",
    "state": "Sourced",
    "source": "PTM 6-K / newsfilecorp"
   },
   "study_author_date": {
    "value": "2019 DFS by Stantec + DRA; 2024 DFS Update incorporating Implats/JV de-risking (NI 43-101, SEDAR+ Oct 2024)",
    "state": "Sourced",
    "source": "newsfilecorp / PTM"
   },
   "resource_confidence": {
    "value": "Proven & Probable 246.2Mt @2.96 g/t 4E for 23.41Moz 4E (100% basis), +0.08% Cu, 0.17% Ni; 54-yr LOM; ~353koz/yr steady-state",
    "state": "Sourced",
    "source": "PTM Waterberg page / newsfilecorp"
   },
   "ie_status": {
    "value": "Independent DFS Update (Stantec/DRA); lender IE would accompany project-finance close",
    "state": "Derived",
    "source": "PTM"
   },
   "screen": "DFS-updated (2024) + Mining Right + huge P&P reserve \u2014 technically ready (construction subject to financing)"
  },
  {
   "id": "longonjo",
   "name": "Longonjo (rare earths)",
   "country": "Angola",
   "operator": "Pensana Plc (FSDEA ~29%)",
   "study_stage": {
    "value": "IN CONSTRUCTION (~22% complete, on budget/schedule); 7 years of studies; metallurgical validation at kg-scale completed",
    "state": "Sourced",
    "source": "Discovery Alert / rareearthexchanges",
    "note": "Past feasibility; now executing \u2014 residual: HREE-recovery validation."
   },
   "study_author_date": {
    "value": "Pensana development studies (~US$70m over 6-7 yrs); construction program underway 2025-26",
    "state": "Sourced",
    "source": "Magnetics Mag / Discovery Alert"
   },
   "resource_confidence": {
    "value": "Near-surface reserve 22Mt @3.04% TREO containing ~139,457t NdPrO; top-3 undeveloped NdPr deposit; low strip ratio (~0.2:1)",
    "state": "Sourced",
    "source": "Magnetics Mag / Crux Investor"
   },
   "ie_status": {
    "value": "Multi-ECA/DFI financing (EXIM/AFC/DFC) implies completed lender technical/IE diligence; kg-scale product validated with customers",
    "state": "Derived",
    "source": "Ecofin / Crux Investor"
   },
   "screen": "In construction (~22%) with reserves + validated product \u2014 strongest execution stage in the screen (HREE recovery still to prove)"
  },
  {
   "id": "khill",
   "name": "K.Hill (battery manganese)",
   "country": "Botswana",
   "operator": "Giyani Metals (100%)",
   "study_stage": {
    "value": "DFS (28 May 2026) supporting Mineral Reserve declaration; demonstration plant (Johannesburg) produced HPMSM + HPMO; superseded the 2023 PEA",
    "state": "Sourced",
    "source": "Giyani / INN",
    "note": "Use the 2026 DFS (25-yr, NPV US$481.5m) \u2014 the older 2023 PEA (57-yr, US$984m) is superseded."
   },
   "study_author_date": {
    "value": "Giyani DFS, 28 May 2026 (Technical Report to be filed); 2025 infill drilling (3,185m/61 holes) to upgrade Measured resource",
    "state": "Sourced",
    "source": "Giyani / Resource World"
   },
   "resource_confidence": {
    "value": "8.6Mt Indicated; 2025 infill drilling aimed at upgrading a portion to Measured for the initial 5 years (typical debt-cover period); DFS declares Mineral Reserves",
    "state": "Sourced",
    "source": "Resource World / Giyani",
    "note": "Measured base for 5-yr debt cover still being firmed up."
   },
   "ie_status": {
    "value": "Independent DFS; demonstration-plant HPMSM/HPMO validated (passed Phase-2 testing with C4V)",
    "state": "Sourced",
    "source": "Giyani / Proactive"
   },
   "screen": "DFS-complete + demonstration-plant product validated (C4V Phase-2); Measured resource for debt cover still being firmed"
  },
  {
   "id": "minim-martap",
   "name": "Minim Martap (bauxite)",
   "country": "Cameroon",
   "operator": "Canyon Resources / Camalco (Camrail 26.9%)",
   "study_stage": {
    "value": "DFS (1 Sep 2025, 'Tier-One Bauxite Operation' + reserves upgrade); in construction (surface miner mobilised Apr 2026; trial mining)",
    "state": "Sourced",
    "source": "globenewswire / mining-technology"
   },
   "study_author_date": {
    "value": "Canyon DFS, 1 Sep 2025 (superseding the 2022 FS); NPV ~US$835m, IRR 29%, capex ~US$97m",
    "state": "Sourced",
    "source": "Crux Investor / Business in Cameroon"
   },
   "resource_confidence": {
    "value": "Ore Reserve 144Mt @51.2% Al2O3, 1.7% SiO2; JORC Resource 1,102Mt @45.3% Al2O3 (>1.1Bt) \u2014 tier-one high-grade, low-silica",
    "state": "Sourced",
    "source": "globenewswire (DFS)"
   },
   "ie_status": {
    "value": "DFS-backed reserves; commercial debt (AFG) drawn against it; trial mining validating grade at scale",
    "state": "Derived",
    "source": "Crux Investor / mining-technology"
   },
   "screen": "DFS-complete (Sep 2025) + reserves upgrade + in construction \u2014 execution-ready, large high-grade reserve"
  },
  {
   "id": "steelpoortdrift",
   "name": "Steelpoortdrift (vanadium)",
   "country": "South Africa",
   "operator": "Vanadium Resources (VR8) 86.49%",
   "study_stage": {
    "value": "DFS (Oct 2022, combined Steelpoortdrift + Tweefontein); FEED underway; a newer V-Iron co-production strategy (pig iron + V slag) is in study",
    "state": "Sourced",
    "source": "VR8 / Discovery Alert",
    "note": "2022 DFS is the anchor; V-Iron co-production is a post-DFS overlay still being studied."
   },
   "study_author_date": {
    "value": "VR8 DFS, 4 Oct 2022 (ASX); ownership since lifted to 86.49% (raises attributable NPV)",
    "state": "Sourced",
    "source": "VR8"
   },
   "resource_confidence": {
    "value": "JORC Resource 680Mt @0.70% V2O5 (4.74Mt contained); P&P Reserve 77Mt @0.72% V2O5 (0.55Mt contained); 25-yr DFS plan (180-yr resource)",
    "state": "Sourced",
    "source": "VR8"
   },
   "ie_status": {
    "value": "Independent DFS (2022); FEED + EPC tender process being prepared",
    "state": "Derived",
    "source": "Mining Weekly / VR8"
   },
   "screen": "DFS-backed (2022) tier-one reserve + full permits; V-Iron co-production overlay still in study (post-DFS)"
  },
  {
   "id": "dasa",
   "name": "Dasa (uranium)",
   "country": "Niger",
   "operator": "Global Atomic via SOMIDA (Niger govt 20%)",
   "study_stage": {
    "value": "Updated FS (2024, Phase 1, incl Flank Zone); UNDER CONSTRUCTION (underground dev since Nov 2022; earthworks/civil; plant components arriving)",
    "state": "Sourced",
    "source": "Global Atomic / mining.com"
   },
   "study_author_date": {
    "value": "Global Atomic 2024 DFS (DCPL of Kolkata engaged for plant EPCM); MRE updated May (Indicated +50%)",
    "state": "Sourced",
    "source": "Global Atomic"
   },
   "resource_confidence": {
    "value": "Africa's highest-grade uranium deposit; probable reserve ~73Mlb U3O8 (8Mt @~4,113 ppm); ~3-4Mlb/yr over ~23-yr life",
    "state": "Sourced",
    "source": "mining.com / Global Atomic"
   },
   "ie_status": {
    "value": "DFS-backed; US DFC technical diligence implied by the loan review; construction physically advanced (~US$250m invested)",
    "state": "Derived",
    "source": "Global Atomic / Crux Investor"
   },
   "screen": "Updated FS + physically under construction (~US$250m invested); highest-grade African uranium \u2014 execution-advanced, financing-gated"
  },
  {
   "id": "baniaka",
   "name": "Baniaka (iron ore)",
   "country": "Gabon",
   "operator": "Genmin (100%)",
   "study_stage": {
    "value": "PFS (Nov 2022) + PFS Addendum (capex savings vs 2022); fully permitted; early civil works \u2014 PRE-DFS (no full DFS/BFS; FID not yet taken)",
    "state": "Sourced",
    "source": "nextinvestors / Genmin",
    "note": "Study basis is PFS-level; honestly pre-DFS despite full permits + early works."
   },
   "study_author_date": {
    "value": "Genmin PFS, 16 Nov 2022 (ASX); PFS Addendum with rapid-completion schedule; Sinohydro EPC bids indicate capex savings",
    "state": "Sourced",
    "source": "Genmin / nextinvestors / MarketScreener"
   },
   "resource_confidence": {
    "value": "JORC Resource 758.7Mt @36.7% Fe (incl ~48.2% high-grade component developed first); defined Ore Reserve",
    "state": "Sourced",
    "source": "nextinvestors / Genmin"
   },
   "ie_status": {
    "value": "PFS + EPC bid review (Sinohydro); no lender IE yet (pre-FID)",
    "state": "Derived",
    "source": "MarketScreener"
   },
   "screen": "PRE-DFS (PFS + addendum) but fully permitted with rail/port + hydro secured; FID + full DFS-grade financing still to come"
  },
  {
   "id": "kanyika",
   "name": "Kanyika (niobium)",
   "country": "Malawi",
   "operator": "Globe Metals & Mining (100%)",
   "study_stage": {
    "value": "BFS completed (Apr 2026; FS 2021 + optimisation Feb 2024 preceded it); fully permitted; EARLY WORKS begun (Jan 2026, Sinomine)",
    "state": "Sourced",
    "source": "mining-technology / mining.com.au"
   },
   "study_author_date": {
    "value": "Globe BFS Apr 2026 (LogiProc lead; SLR/Orelogy/Eco Elementum specialists); reserve as of Mar 2026",
    "state": "Sourced",
    "source": "mining-technology (BFS)"
   },
   "resource_confidence": {
    "value": "P&P Reserve 33.8Mt @3,050 ppm Nb2O5 + 142 ppm Ta2O5 (85% Probable/15% Proved); 24-yr life; pilot-validated flowsheet",
    "state": "Sourced",
    "source": "mining-technology / Discovery Alert"
   },
   "ie_status": {
    "value": "BFS by independent specialists; Sinomine early-works validating construction/operating cost inputs; lender IE would accompany FID financing",
    "state": "Derived",
    "source": "Globe / mining-technology"
   },
   "screen": "BFS-complete (48% IRR, lowest-cost quartile) + reserves + early works \u2014 DFS-grade and execution-started, financing/FID pending"
  },
  {
   "id": "toliara",
   "name": "Vara Mada / Toliara (mineral sands + REE)",
   "country": "Madagascar",
   "operator": "Energy Fuels (100%)",
   "study_stage": {
    "value": "Updated FS (8 Jan 2026; S-K 1300 + NI 43-101; supersedes 2021 DFS + 2024 monazite PFS) \u2014 advanced, PRE-FID",
    "state": "Sourced",
    "source": "Energy Fuels / FS report"
   },
   "study_author_date": {
    "value": "Energy Fuels FS, effective reserve date 30 Jun 2025; Lycopodium site inspection Feb 2025; TZMI + Adamas price decks",
    "state": "Sourced",
    "source": "FS report / prnewswire"
   },
   "resource_confidence": {
    "value": "World-class HMS Reserve/Resource (ilmenite/zircon/rutile/monazite); ~959kt ilmenite + 66kt zircon + 24kt monazite/yr; ~38-yr life",
    "state": "Sourced",
    "source": "mining.com / Ecofin"
   },
   "ie_status": {
    "value": "Independent FS (S-K 1300 + NI 43-101 QPs); monazite-permit addition + govt agreement outstanding pre-FID",
    "state": "Sourced",
    "source": "Energy Fuels"
   },
   "screen": "FS-complete (S-K 1300 + NI 43-101) world-class HMS+REE; FID gated on the government investment agreement (post-coup)"
  },
  {
   "id": "farim",
   "name": "Farim (phosphate)",
   "country": "Guinea-Bissau",
   "operator": "Itafos (100%)",
   "study_stage": {
    "value": "Updated FS (May 2023, NI 43-101; consolidates 2015-2022 de-risk incl pilot-plant runs) \u2014 FS-complete but 2023-vintage, PRE-FID",
    "state": "Sourced",
    "source": "Itafos / globenewswire",
    "note": "2023 FS; ~3 years old \u2014 refresh likely needed at FID."
   },
   "study_author_date": {
    "value": "Itafos FS by Ausenco (effective 17 May 2023); KEMWorks/WSP-Golder/Knight Piesold support",
    "state": "Sourced",
    "source": "mining-technology / Itafos"
   },
   "resource_confidence": {
    "value": "M&I 105.6Mt @28.4% P2O5 + Inferred 37.6Mt @27.7%; high-grade free-dig (ROM 30% P2O5); 25-yr life; 3 pilot-plant runs validated the flowsheet",
    "state": "Sourced",
    "source": "newsfilecorp / Itafos FS"
   },
   "ie_status": {
    "value": "Independent FS (Ausenco, NI 43-101); pilot-validated flowsheet",
    "state": "Sourced",
    "source": "Itafos"
   },
   "screen": "FS-complete (2023) + pilot-validated + high-grade reserve; study is ~3-yr-vintage and FID long-pending"
  },
  {
   "id": "boumadine",
   "name": "Boumadine (polymetallic Au-Ag-Zn-Pb)",
   "country": "Morocco",
   "operator": "Aya Gold & Silver (operates Zgounder)",
   "study_stage": {
    "value": "PEA (4 Nov 2025, NI 43-101; report filed 18 Dec 2025); FS work program commenced Mar 2026 (FS targeted H2-2027) \u2014 PEA-stage, pre-DFS",
    "state": "Sourced",
    "source": "globenewswire / Morocco World News",
    "note": "PEA includes inferred resources; reserves await the FS."
   },
   "study_author_date": {
    "value": "Aya PEA effective 4 Nov 2025 (Lycopodium + WSP QPs); MRE update targeted H2-2026 (SRK); 360,000m infill drilling 2026-27",
    "state": "Sourced",
    "source": "globenewswire / Aya"
   },
   "resource_confidence": {
    "value": "District-scale polymetallic (Au-Ag-Pb-Cu-Zn); Main Trend 5.4km + Tizi + Imariren; PEA-stage MRE (inferred-inclusive); no reserves yet",
    "state": "Sourced",
    "source": "Aya / globenewswire",
    "note": "Inferred-heavy at PEA; infill drilling to convert to indicated for reserves."
   },
   "ie_status": {
    "value": "Independent PEA (NI 43-101 QPs: Lycopodium/WSP); FS engineering underway (SGS metallurgy, SRK MRE)",
    "state": "Sourced",
    "source": "globenewswire / Aya"
   },
   "screen": "PEA-stage (pre-DFS) with FS underway (H2-2027); district-scale resource, reserves still to be defined"
  },
  {
   "id": "lofdal",
   "name": "Lofdal (heavy rare earths)",
   "country": "Namibia",
   "operator": "Namibia Critical Metals 95% (JOGMEC JV)",
   "study_stage": {
    "value": "PFS (Dec 2025, NI 43-101 'Lofdal 2B-4'; filed SEDAR 13 Jan 2026); DFS underway (JOGMEC-funded; DFS targeted Q2 2027) \u2014 pre-DFS",
    "state": "Sourced",
    "source": "NCMI / rare-earth-mining.com"
   },
   "study_author_date": {
    "value": "NCMI PFS Dec 2025 (SGS Bateman lead); DFS de-risking + resource drilling (Area 2B + Area 5) funded by JOGMEC (Mar 2026)",
    "state": "Sourced",
    "source": "NCMI / stocktitan"
   },
   "resource_confidence": {
    "value": "M&I 58.5Mt @0.16% TREO; P&P Reserve 32Mt @0.176% TREO (13-yr life); 4,503t Dy2O3 + 693t Tb2O3 contained; uranium/thorium-free",
    "state": "Sourced",
    "source": "rare-earth-mining.com / NCMI PFS"
   },
   "ie_status": {
    "value": "PFS by SGS Bateman + specialists; DFS (Q2-2027) is the next IE-grade milestone; pilot-scale metallurgy validated",
    "state": "Sourced",
    "source": "NCMI / Crux Investor"
   },
   "screen": "PFS-complete (IRR 19%, 13-yr) + JOGMEC-funded DFS underway (Q2-2027); low grade but high-value heavy-REE basket"
  },
  {
   "id": "haib",
   "name": "Haib (copper-moly-gold porphyry)",
   "country": "Namibia",
   "operator": "Koryx Copper (100%)",
   "study_stage": {
    "value": "PEA (4 Sep 2025, NI 43-101) + updated MRE (effective 16 Mar 2026); PFS targeted late 2026 \u2014 PEA-stage, pre-DFS",
    "state": "Sourced",
    "source": "Koryx / globenewswire"
   },
   "study_author_date": {
    "value": "Koryx PEA effective 4 Sep 2025; updated MRE Mar 2026; Phase 2/3 infill drilling toward Indicated conversion + PFS (late-2026)",
    "state": "Sourced",
    "source": "globenewswire / Koryx"
   },
   "resource_confidence": {
    "value": "Large Cu-Mo-Au porphyry (>80,000m drilled since 1970s; Falconbridge/Rio/Teck pedigree); updated MRE Mar 2026; drilling toward full-Indicated mid-2026",
    "state": "Sourced",
    "source": "globenewswire / Koryx"
   },
   "ie_status": {
    "value": "Independent PEA + MRE (NI 43-101 QPs); PFS (late-2026) is the next IE-grade milestone",
    "state": "Sourced",
    "source": "Koryx"
   },
   "screen": "PEA-stage (pre-DFS) with PFS late-2026; large well-drilled porphyry, low grade, dual-stream (concentrator + heap-leach)"
  },
  {
   "id": "orom-cross",
   "name": "Orom-Cross (graphite)",
   "country": "Uganda",
   "operator": "Blencowe Resources (100%)",
   "study_stage": {
    "value": "DFS COMPLETED (Dec 2025, JORC) \u2014 construction-grade; transitions project into financing/development",
    "state": "Sourced",
    "source": "Blencowe / miningweekly"
   },
   "study_author_date": {
    "value": "Blencowe DFS Dec 2025; revised JORC Resource Nov 2025 (47% reserve increment); Stage-7 drilling (7,000m+; Beehive/Iyan new deposits)",
    "state": "Sourced",
    "source": "Blencowe / Investegate"
   },
   "resource_confidence": {
    "value": "JORC Resource 26.10Mt @5.58% TGC; Reserve 23.08Mt @5.18% TGC (from only ~2% of tenement); large coarse-flake, shallow, free-dig; 15-yr initial LOM",
    "state": "Sourced",
    "source": "Blencowe DFS",
    "note": "Substantial upside; Beehive/Iyan to add in 2026."
   },
   "ie_status": {
    "value": "DFS by experienced graphite engineering firm (JORC); DFC/AFC technical diligence",
    "state": "Sourced",
    "source": "Blencowe"
   },
   "screen": "DFS-complete (construction-grade) + permitted + large coarse-flake reserve; the most de-risked study in this batch"
  },
  {
   "id": "bankan",
   "name": "Bankan (gold)",
   "country": "Guinea",
   "operator": "Predictive Discovery (100%)",
   "study_stage": {
    "value": "DFS (Jun 2025, builds on Apr-2024 PFS; +/-15% accuracy) \u2014 construction-grade, financing/permit-gated",
    "state": "Sourced",
    "source": "Predictive Discovery / Argonaut"
   },
   "study_author_date": {
    "value": "PDI DFS Jun 2025 (Q1-2025 pricing); MRE Competent Person Phil Jankowski; open-pit (NEB+BC) + NEB underground; 4.5Mtpa CIL; 92.8% recovery",
    "state": "Sourced",
    "source": "Predictive Discovery"
   },
   "resource_confidence": {
    "value": "MRE 5.53Moz (NEB 4.89 + BC 0.49 + Fouwagbe 0.12 + Sounsoun 0.03); Probable Reserve 2.95Moz (51.6Mt @1.78 g/t); production profile 90.6% Reserves / 9.4% Inferred",
    "state": "Sourced",
    "source": "Predictive Discovery / miningreview"
   },
   "ie_status": {
    "value": "Independent DFS (NI 43-101/JORC QPs); one of the highest-quality global gold development projects (Argonaut)",
    "state": "Sourced",
    "source": "Argonaut / Predictive Discovery"
   },
   "screen": "DFS-complete (construction-grade), large reserve, low AISC \u2014 among the highest-quality undeveloped gold projects globally"
  },
  {
   "id": "zanaga",
   "name": "Zanaga (iron ore)",
   "country": "Republic of Congo",
   "operator": "Zanaga Iron Ore Co (100%)",
   "study_stage": {
    "value": "FS-complete + fully permitted; Apr-2026 economic UPDATE (DRI-grade revision); core FS is 2014-vintage (refreshed) \u2014 pre-construction",
    "state": "Sourced",
    "source": "miningweekly / ZIOC",
    "note": "2014 FS refreshed via 2025 DRI testwork + Apr-2026 economic update; a full DFS refresh likely at FID."
   },
   "study_author_date": {
    "value": "Apr-2026 economic update (DRI-grade): Stage-1 NPV US$2.54bn/IRR 22.5%/capex US$2.17bn; combined NPV US$4.90bn/IRR 24.3%/capex US$4.05bn",
    "state": "Sourced",
    "source": "miningweekly"
   },
   "resource_confidence": {
    "value": "World-class JORC Resource ~6.9Bt (among the largest globally); high-grade DRI concentrate 68.5% Fe (Stage 1) / 68.8% (combined); 30Mtpa / ~30yr staged",
    "state": "Sourced",
    "source": "Shard/ZIOC / Zanaga"
   },
   "ie_status": {
    "value": "Long-standing FS + 2025 DRI testwork validation + Apr-2026 economic update; FID-grade refresh outstanding",
    "state": "Sourced",
    "source": "miningweekly / discoveryalert"
   },
   "screen": "Fully permitted + world-class JORC resource + refreshed 2026 economics; 2014-vintage FS and a huge infrastructure build remain the gating items"
  },
  {
   "id": "muntanga",
   "name": "Muntanga (uranium)",
   "country": "Zambia",
   "operator": "Atomic Eagle (100%; ex-GoviEx)",
   "study_stage": {
    "value": "FS/BFS (GoviEx, filed Mar 2025, NI 43-101; restated by Atomic Eagle) \u2014 fully costed, financing-gated",
    "state": "Sourced",
    "source": "GoviEx / Crux Investor"
   },
   "study_author_date": {
    "value": "GoviEx FS (Ukwazi + SRK (UK) + SGS Bateman), effective 1 Jan 2025; MRE effective 31 Jan 2024 (SRK QP Andre Deiss)",
    "state": "Sourced",
    "source": "GoviEx / newsfilecorp"
   },
   "resource_confidence": {
    "value": "M&I 40.0Mlb U3O8 (50.4Mt @359ppm) + Inferred 18.8Mlb (combined ~58.8Mlb @309ppm); Probable Reserves support 12-yr LOM; ~2.2Mlb/yr; 90.5% recovery",
    "state": "Sourced",
    "source": "Crux Investor / World Nuclear News"
   },
   "ie_status": {
    "value": "Independent FS (NI 43-101 QPs); restated by Atomic Eagle; larger-scale expansion FS targeted late-2027",
    "state": "Sourced",
    "source": "GoviEx / Crux Investor"
   },
   "screen": "FS-complete (heap-leach, 90.5% recovery, no tailings) + permitted; low grade but large tonnage; expansion FS to come"
  },
  {
   "id": "bilboes",
   "name": "Bilboes (gold)",
   "country": "Zimbabwe",
   "operator": "Caledonia Mining (100%)",
   "study_stage": {
    "value": "FS published 25 Nov 2025 (DRA Projects; TRS/NI 43-101 + S-K 1300) + DECISION TO PROCEED (FID) + FEED commencing \u2014 construction-grade",
    "state": "Sourced",
    "source": "Caledonia / mining-technology"
   },
   "study_author_date": {
    "value": "DRA Projects FS (Nov 2025); reserve effective 31 Oct 2025; single-phase development confirmed most economic",
    "state": "Sourced",
    "source": "Caledonia / globenewswire"
   },
   "resource_confidence": {
    "value": "P&P Reserve 1.75Moz @2.26 g/t (24.1Mt); M&I (excl reserves) 532koz @1.37; Inferred 984koz @1.62; LOM 1.55Moz / 10.8yr; refractory -> BIOX",
    "state": "Sourced",
    "source": "Caledonia / miningweekly"
   },
   "ie_status": {
    "value": "Independent FS (DRA Projects); FID taken; FEED underway",
    "state": "Sourced",
    "source": "Caledonia"
   },
   "screen": "FS-complete + FID taken + FEED commencing \u2014 one of the most construction-ready assets in the screen; refractory BIOX processing"
  },
  {
   "id": "douta",
   "name": "Douta (gold)",
   "country": "Senegal",
   "operator": "Thor Explorations (100%)",
   "study_stage": {
    "value": "PFS completed (Jan 2026); Thor positioning to 'fast-track' to an updated feasibility study \u2014 PFS-level (pre-DFS), construction-targeted H2-2026",
    "state": "Sourced",
    "source": "African Mining Market / mining-technology",
    "note": "PFS, with DFS to follow; EPC pricing already established."
   },
   "study_author_date": {
    "value": "Douta PFS Jan 2026 (with EPC contractor); 2026 40,000m drilling + resource update Q3-2026",
    "state": "Sourced",
    "source": "African Mining Market"
   },
   "resource_confidence": {
    "value": "Probable Reserve 1.2Moz (36.6Mt @1.03 g/t, Jan 2026); ~1Moz LOM; staged oxide-then-primary; 89%+ recovery class",
    "state": "Sourced",
    "source": "mining-technology"
   },
   "ie_status": {
    "value": "Independent PFS (NI 43-101); DFS to follow; EPC pricing established",
    "state": "Sourced",
    "source": "African Mining Market"
   },
   "screen": "PFS-complete (pre-DFS) + EPC pricing + approved ESIA; advancing to construction H2-2026, DFS refresh to come"
  },
  {
   "id": "bekisopa",
   "name": "Bekisopa (iron ore)",
   "country": "Madagascar",
   "operator": "AKORA Resources (100%)",
   "study_stage": {
    "value": "PFS completed (Mar 2025; upgraded the prior scoping study) + DFS commencing \u2014 PFS-level (pre-DFS), FID targeted H1-2026",
    "state": "Sourced",
    "source": "minedocs PFS / smallcaps"
   },
   "study_author_date": {
    "value": "Akora Bekisopa PFS Mar 2025; resource upgrades through 2025; DFS + EIA + permitting underway",
    "state": "Sourced",
    "source": "minedocs PFS / smallcaps"
   },
   "resource_confidence": {
    "value": "DSO Indicated+Inferred ~7.9Mt @58.8% Fe (starter); broader Inferred ~194.7Mt with +68% Fe DRI-grade concentrate potential; 2Mtpa DSO @61.6% Fe blended",
    "state": "Sourced",
    "source": "Akora / minedocs PFS"
   },
   "ie_status": {
    "value": "Independent PFS (JORC); DFS commencing as the next IE-grade milestone",
    "state": "Sourced",
    "source": "smallcaps"
   },
   "screen": "PFS-complete (pre-DFS) low-capex DSO + large Inferred concentrate upside; DFS + EIA in progress"
  },
  {
   "id": "enchi",
   "name": "Enchi (gold)",
   "country": "Ghana",
   "operator": "Newcore Gold (100%)",
   "study_stage": {
    "value": "PFS completed (effective 23 Jun 2026; builds on 2024 PEA) \u2014 PFS-level (pre-DFS); basis for the 2026 mining-lease application",
    "state": "Sourced",
    "source": "Newcore / globenewswire"
   },
   "study_author_date": {
    "value": "Newcore PFS Jun 2026 (Lycopodium Canada lead; Fuse/Knight Piesold/DRA); MRE effective 6 Oct 2025 (announced 18 Mar 2026)",
    "state": "Sourced",
    "source": "Newcore / mining-technology"
   },
   "resource_confidence": {
    "value": "Indicated 83.6Mt @0.56 g/t = 1,502,000 oz (Reserves inclusive) + Inferred 40.1Mt @0.49 g/t = 626,000 oz; four deposits, all open; 80,000m drilling underway",
    "state": "Sourced",
    "source": "Newcore / globenewswire"
   },
   "ie_status": {
    "value": "Independent PFS (NI 43-101 QPs); DFS to follow; mining lease the next milestone",
    "state": "Sourced",
    "source": "Newcore"
   },
   "screen": "Fresh PFS (Jun 2026); low-grade bulk CIL; large district with strong resource-growth drilling underway"
  },
  {
   "id": "boundiali",
   "name": "Boundiali (gold)",
   "country": "Cote d'Ivoire",
   "operator": "Aurum Resources (operator/owner)",
   "study_stage": {
    "value": "PFS delivered (May 2026, AACE Class 4 +/-25%) + maiden Ore Reserve; Board endorsed DFS (Q3/Q4-2026) \u2014 PFS-level",
    "state": "Sourced",
    "source": "Aurum PFS / investingnews"
   },
   "study_author_date": {
    "value": "Aurum Boundiali PFS May 2026; MRE 3.0Moz (100Mt @1.0 g/t, Feb 2026; SLR-reviewed); 100,000m drilling + further MRE Q3-2026",
    "state": "Sourced",
    "source": "Aurum / investorpa"
   },
   "resource_confidence": {
    "value": "JORC MRE 3.0Moz (Indicated 1.70Moz; grown 1.58 -> 3.22Moz in 17 months) + maiden Ore Reserve; CIL recovery 71% baseline, flotation upside to ~90%",
    "state": "Sourced",
    "source": "Aurum PFS / investorpa"
   },
   "ie_status": {
    "value": "Independent PFS (JORC; SLR site reviews); DFS Q3/Q4-2026 with a major MRE/Reserve update to underpin the mine plan",
    "state": "Sourced",
    "source": "Aurum PFS"
   },
   "screen": "PFS-complete (Class 4) + maiden Reserve; fast resource growth; refractory/flotation recovery upside to be firmed in the DFS"
  },
  {
   "id": "afema",
   "name": "Afema (gold)",
   "country": "Cote d'Ivoire",
   "operator": "Turaco Gold (80%; Sodim 20%)",
   "study_stage": {
    "value": "PFS completed 17 Jun 2026 (maiden Probable Reserve); moving immediately to DFS (Q2-CY2027) + detailed design \u2014 PFS-level",
    "state": "Sourced",
    "source": "miningweekly / smallcaps"
   },
   "study_author_date": {
    "value": "Turaco Afema PFS 17 Jun 2026; MRE 4.65Moz (116.7Mt @1.2 g/t) Mar 2026; ongoing 10,000m/month exploration drilling",
    "state": "Sourced",
    "source": "Turaco / tradingview"
   },
   "resource_confidence": {
    "value": "MRE 4.65Moz (1.2 g/t) + maiden Probable Reserve 55.1Mt @1.1 g/t = 1.91Moz; 6Mtpa plant (CIL + flotation/UFG/CIL), 87-88% recovery; six deposits, all open",
    "state": "Sourced",
    "source": "Turaco PFS / tradingview"
   },
   "ie_status": {
    "value": "Independent PFS (JORC); DFS Q2-2027 to firm reserves/economics",
    "state": "Sourced",
    "source": "Turaco PFS"
   },
   "screen": "Fresh PFS + maiden 1.91Moz Reserve; large bulk-tonnage gold; DFS Q2-2027 next"
  },
  {
   "id": "tgme",
   "name": "TGME (gold)",
   "country": "South Africa",
   "operator": "Theta Gold Mines (74%; 26% BEE)",
   "study_stage": {
    "value": "Optimised Feasibility Study (Feb 2026, Minxcon); now in CONSTRUCTION \u2014 the most advanced study/stage in the screen",
    "state": "Sourced",
    "source": "miningweekly / miningreview"
   },
   "study_author_date": {
    "value": "TGME Optimised FS Feb 2026 (Minxcon); supersedes 2022 FS",
    "state": "Sourced",
    "source": "miningweekly"
   },
   "resource_confidence": {
    "value": "Resource 6.1Moz (45.84Mt @4.17 g/t; high-grade); base-case plan 6.34Mt @4.96 g/t = ~1.01Moz mined, 870koz recovered @86.2%; P&P 558koz (first 7yr)",
    "state": "Sourced",
    "source": "Wikipedia / miningweekly"
   },
   "ie_status": {
    "value": "Independent Optimised FS (Minxcon); construction-stage with appointed owners' engineers (RM Process, Eco Elementum)",
    "state": "Sourced",
    "source": "miningweekly / miningreview"
   },
   "screen": "Construction-stage on a Feb-2026 Optimised FS; high-grade brownfield restart \u2014 the readiness end of the screen"
  },
  {
   "id": "diamba-sud",
   "name": "Diamba Sud (gold)",
   "country": "Senegal",
   "operator": "Fortuna Mining (100% via Boya SA)",
   "study_stage": {
    "value": "PEA (15 Oct 2025); FS targeted Q2-2026 then construction decision \u2014 PEA-level, but with early works already underway",
    "state": "Sourced",
    "source": "Fortuna / mining.com"
   },
   "study_author_date": {
    "value": "Diamba Sud PEA 15 Oct 2025 (Technical Report effective 15 Oct 2025); updated MRE Feb 2026",
    "state": "Sourced",
    "source": "Fortuna"
   },
   "resource_confidence": {
    "value": "Indicated 1.25Moz (updated Feb 2026; Southern Arc 367koz largest deposit); seven deposits; ~840koz LOM production",
    "state": "Sourced",
    "source": "Fortuna / intellectia"
   },
   "ie_status": {
    "value": "Independent PEA (NI 43-101); FS Q2-2026 to firm reserves/economics",
    "state": "Sourced",
    "source": "Fortuna"
   },
   "screen": "PEA-complete + early works underway; FS Q2-2026 the next milestone (advanced for PEA-stage)"
  },
  {
   "id": "bunyu",
   "name": "Bunyu (graphite)",
   "country": "Tanzania",
   "operator": "Volt Resources (100%; UOF 62% pending)",
   "study_stage": {
    "value": "Stage-1 FS (updated Aug 2023), now being REVISED by UOF (lower-capex 40ktpa redesign); permits in hand \u2014 financing-stage",
    "state": "Sourced",
    "source": "miningweekly / smallcaps",
    "note": "FS exists but a revised Stage-1 FS is a UOF condition precedent."
   },
   "study_author_date": {
    "value": "Bunyu Stage-1 FS updated Aug 2023 (prior 2018 FS / 2016 PFS for Stage 2); revised FS pending under UOF",
    "state": "Sourced",
    "source": "miningweekly / tanzaniainvest"
   },
   "resource_confidence": {
    "value": "461Mt @4.9% TGC = 22.6Mt contained graphite; Reserve 127Mt @4.4% TGC; Stage-1 40ktpa 94% TGC concentrate, Stage-2 -> 170ktpa",
    "state": "Sourced",
    "source": "voltresources / tanzaniainvest"
   },
   "ie_status": {
    "value": "Independent FS (Aug 2023); revised FS to be prepared by UOF as a condition precedent",
    "state": "Sourced",
    "source": "miningweekly"
   },
   "screen": "FS-complete + permits, but Stage-1 being redesigned; financing-stage (revised FS a CP)"
  },
  {
   "id": "ancuabe",
   "name": "Ancuabe (graphite)",
   "country": "Mozambique",
   "operator": "Triton Minerals (80%; Moz govt 10%)",
   "study_stage": {
    "value": "DFS complete (Dec 2017, updated Feb 2024 \u2014 lower capex, 1.2Mtpa plant) \u2014 DFS-level, FID pending",
    "state": "Sourced",
    "source": "mining.com.au / mining-technology"
   },
   "study_author_date": {
    "value": "Ancuabe DFS Dec 2017; updated DFS Feb 2024 (Triton ASX:TON)",
    "state": "Sourced",
    "source": "mining.com.au"
   },
   "resource_confidence": {
    "value": "JORC reserve 24.9Mt @6.2% TGC = 1.54Mt contained graphite (high-purity large flake); ~60-70ktpa over 27yr",
    "state": "Sourced",
    "source": "nsenergybusiness / clubofmozambique"
   },
   "ie_status": {
    "value": "Independent DFS (2017, updated 2024)",
    "state": "Sourced",
    "source": "mining.com.au"
   },
   "screen": "DFS-complete (updated 2024) high-purity large-flake graphite; FID gated on financing + security"
  },
  {
   "id": "zandkopsdrift",
   "name": "Zandkopsdrift (REE + Mn)",
   "country": "South Africa",
   "operator": "Frontier Rare Earths (IDC/Carester/Komir partners)",
   "study_stage": {
    "value": "Updated PFS (2025) + DFS underway (commenced Feb 2026, completion H1-2027) \u2014 PFS-level, DFS in progress",
    "state": "Sourced",
    "source": "prnewswire / crown.co.za"
   },
   "study_author_date": {
    "value": "Updated PFS 2025; DFS commenced Feb 2026 (Carester technology), completion H1-2027",
    "state": "Sourced",
    "source": "prnewswire"
   },
   "resource_confidence": {
    "value": "P&P Reserves support >45-yr mine life; ~3,038 tpa NdPr oxide + 114 tpa Dy + 25 tpa Tb (first 25yr); magnet REE ~94% of contained value",
    "state": "Sourced",
    "source": "prnewswire / crown.co.za"
   },
   "ie_status": {
    "value": "Independent PFS (2025); DFS underway with Carester separation technology",
    "state": "Sourced",
    "source": "prnewswire"
   },
   "screen": "PFS-complete + DFS underway (H1-2027); world-class magnet-REE + battery-manganese economics"
  },
  {
   "id": "kandiole",
   "name": "Kandiole (gold)",
   "country": "Mali",
   "operator": "Roscan Gold (100%)",
   "study_stage": {
    "value": "PEA (effective Feb 2026; TR filed Apr 2026) \u2014 PEA-level (pre-DFS); leans on Inferred resources",
    "state": "Sourced",
    "source": "Roscan / theglobeandmail",
    "note": "PEA uses some Inferred resources (speculative)."
   },
   "study_author_date": {
    "value": "Kandiole PEA effective Feb 2026 (Bara Consulting UK); MRE effective 19 Feb 2026",
    "state": "Sourced",
    "source": "Roscan"
   },
   "resource_confidence": {
    "value": "Indicated 58.2Mt @0.68 g/t = 1.283Moz + Inferred 5.6Mt @0.52 g/t = 0.09Moz; ~97% of mill feed from Indicated; four deposits",
    "state": "Sourced",
    "source": "Roscan / marketscreener"
   },
   "ie_status": {
    "value": "Independent PEA (NI 43-101; Bara Consulting); DFS to follow",
    "state": "Sourced",
    "source": "Roscan"
   },
   "screen": "Fresh PEA (Feb 2026); low-grade open-pit CIL; DFS + reserve conversion ahead"
  },
  {
   "id": "steenkampskraal",
   "name": "Steenkampskraal (REE + thorium)",
   "country": "South Africa",
   "operator": "SMM (Holdings + Bora; IDC-funded)",
   "study_stage": {
    "value": "CONSTRUCTION-stage (Phase-1 plant); first monazite concentrate already produced from the metallurgical circuit; lab-scale mixed-RE products achieved with Mintek",
    "state": "Sourced",
    "source": "steenkampskraal / africanminingmarket"
   },
   "study_author_date": {
    "value": "Phased techno-economic plan (NI 43-101 resource); SMM/Mintek lab-scale beneficiation 2026; Phase-1 commissioning Aug 2026",
    "state": "Sourced",
    "source": "rareearthexchanges / crown.co.za"
   },
   "resource_confidence": {
    "value": "One of one of the world's highest-grade REE depositss (RoM ~14.4% TREO+Y2O3; monazite concentrate >50% TREO; Nd ~56.6% of REE, Dy ~14.2%, Pr ~12.4%, Tb ~9.6%); ~ZAR1bn sunk",
    "state": "Sourced",
    "source": "esi-africa / crown.co.za"
   },
   "ie_status": {
    "value": "NI 43-101 resource; phased plan; commercial-scale separation/recovery still to be proven",
    "state": "Sourced",
    "source": "rareearthexchanges",
    "note": "Commercial-scale separation is the largest unproven step."
   },
   "screen": "Construction-stage on the world's highest-grade REE; commercial-scale separation the unproven step"
  }
 ]
}