Afrimintel · Platform · Decision Views · Screening · Methodology · Audit Log

Bankability at a common 8%

Issuer feasibility NPVs are reported at different discount rates (7%, 8%, 10%), so they cannot be compared as published. This view normalises them to one 8% real post-tax basis. Where an issuer already reported at 8%, the figure is Sourced as-is; where re-discounted, it is Derived and labelled.

Asset	Issuer NPV (as reported)	NPV at common 8%	Basis / caveat
Goulamina Mali · Li	US$2,900m @ 8%	US$2,900m issuer 8%	Already 8% (Stages 1+2, $978/t spodumene) — comparable as reported.
Kabanga Tanzania · Ni	US$1,580m @ 8%	US$1,580m issuer 8%	Already 8% — comparable as reported.
Ewoyaa Ghana · Li	US$1,500m @ 8%	US$1,500m issuer 8%	Already 8% — comparable as reported.
Kasiya Malawi · rutile+graphite	US$1,065–1,448m @ 8%	US$1,065–1,448m issuer 8%	Already 8%; post-tax range (Malawian fiscal terms unresolved).
Balama Mozambique · graphite	US$1,100m @ 10%	US$1,372m Derived · re-discounted	Re-discounted 10%->8%; STILL on 2015-FS pricing — rate normalised, vintage not.
Motheo Botswana · Cu	US$206m @ 7%	US$181m Derived · re-discounted	Re-discounted 7%->8%.
Kamoa-Kakula DRC · Cu	— @ scenario set	— excluded	DRC, data-layer-only scenario range — not reduced to a comparable point.
Lindi Jumbo Tanzania · graphite	US$197m @ not stated in retrieved sources	— excluded	Issuer discount rate unverified — cannot normalise; excluded from the common-8% set pending verification.

Method. npv8_common_usd_m normalises the bankability layer to a single 8% real post-tax discount rate so assets can be compared. Method: the issuer cash flow is treated as a level annuity over mine life (the platform DCF's steady-state basis); the implied level free cash flow is backed out from the issuer NPV at the issuer's rate (reproducing it exactly), then re-discounted to 8%. state='Sourced' where the issuer already reported at 8%; state='Derived' where re-discounted (Motheo 7%->8%, Balama 10%->8%). This isolates the discount-rate effect only — it is NOT a full cash-flow rebuild, real profiles ramp and decline, and it does NOT correct price vintage (e.g. Balama remains on 2015-FS pricing; Goulamina on $978/t). Lindi-Jumbo and Kamoa are excluded (unverified rate / DRC range).

Normalising the discount rate does not fix price vintage or study stage. Balama's figure remains on 2015-FS pricing; Goulamina's is Stages 1+2 at US$978/t spodumene (pre-decline); Kasiya is a post-tax range pending Malawian fiscal terms. Read the per-asset basis. Full issuer parameters sit in the structured feed at /api/v1/bankability.json.