Ep 110: Financing Mines - what banks really look for

05/15/25 • 15 min

What do banks look for before funding a mining project?

In this episode of Fresh Thinking by Snowden Optiro, Tarrant Elkington is joined by our Executive Consultant Bob Jankovic to explore the technical side of mining finance. With over 35 years’ experience across North and South America, and deep expertise inside major banks, Bob offers a rare look behind the scenes of what lenders expect from feasibility studies, resource models, and risk assessments.

Whether you're preparing to raise capital or just curious about the lending landscape, this is a must-listen for anyone involved in mine development.

If you would like to contact Tarrant or Bob: contact(at)snowdenoptiro.com

🔔 Subscribe for more Fresh Thinking about the mining industry.

This video podcast is also available as a video podcast on YouTube: https://youtu.be/JfxD5z0QXZU?feature=shared

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

We help mine developers to advance their projects, mining companies to improve their operations and their professionals, and investors to de-risk their investments by the provision of quality advice, training and software in the field of Mineral Resources and Mineral/Ore Reserves.

Find out more at: https://snowdenoptiro.com Training: https://snowdenoptiro.com/professiona...

What do banks look for before funding a mining project?

Whether you're preparing to raise capital or just curious about the lending landscape, this is a must-listen for anyone involved in mine development.

If you would like to contact Tarrant or Bob: contact(at)snowdenoptiro.com

🔔 Subscribe for more Fresh Thinking about the mining industry.

This video podcast is also available as a video podcast on YouTube: https://youtu.be/JfxD5z0QXZU?feature=shared

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

Find out more at: https://snowdenoptiro.com Training: https://snowdenoptiro.com/professiona...

Previous Episode

Ep 109: Part 2 - Resource Classification in Practice

In this episode of Fresh Thinking, Senior Consultant Dr Gregory Zhang and Executive Consultant Ian Glacken explore more advanced mineral resource classification methods.

Building on Part 1, they discuss the widely used 90/15 approach, delve into the role of scorecards, and discuss how classification should go beyond drill spacing alone. A practical conversation for geologists, resource modellers, and anyone involved in technical reporting.

This podcast at a glance:

00:45 – What is the 90/15 approach and how is it applied?

02:50 – Production volumes and how they link to confidence levels

05:00 – Why drill spacing alone isn't enough

06:50 – Conditional simulation and its role in classification

07:55 – Introduction to the scorecard method

10:50 – Strengths and subjectivity in the scorecard approach

11:45 – Real-world case study applying 90/15 and scorecards

13:00 – Final thoughts on classification beyond simple metrics

If you would like to contact Ian and Gregory: [email protected]

🔔 Subscribe for more Fresh Thinking about the mining industry.

This video version of this podcast is available on Snowden Optiro YouTube channel.

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

Find out more at: https://snowdenoptiro.com Training: https://snowdenoptiro.com/professiona...

Next Episode

Podcast 111: Reading Between the Lines. Fresh Thinking by Snowden Optiro

In this episode of Fresh Thinking by Snowden Optiro, our General Manager Tarrant Elkington is joined by our Principal Consultant Matt Walker to explore what really goes into ASX announcements of Mineral Resource Estimates (MREs).

They discuss the minimum reporting requirements under the JORC Code, the role of the Competent Person, and common red flags to watch for - such as unconstrained estimates, overuse of superlatives, and misleading imagery.

Whether you're a geologist, mining professional, or investor, this episode offers practical insights into how MREs are prepared, reported, and interpreted - it will help you to... read between the lines!

This podcast at a glance:

00:04 – Introduction and episode focus – MREs in ASX announcements 01:14 – Guest introduction: Matt Walker and his experience with MREs 01:47 – Minimum requirements for reporting an MRE under JORC Code 03:08 – ASX Listing Rules and mandatory disclosure elements 05:00 – Continuous disclosure and minimum vs best practice 06:23 – When and why MREs are announced 08:12 – Red flags and what geologists look for in MREs 10:10 – Peer comparisons, competent person styles, and report 'fingerprints' 11:00 – Internal vs external resource reporting 13:00 – Importance of resource constraint and economic extraction 15:05 – Reading resource classifications and visual representations 17:18 – Use of gram-metres and understanding deposit width 18:03 – Why classification matters – insights from the Parker Challenge 19:31 – Interpolation vs extrapolation in block models 21:00 – Classification confidence and converting to reserves 22:00 – Wrap-up and final thoughts If you would like to contact Tarrant or Matt: contact(at)snowdenoptiro.com

🔔 Subscribe for more Fresh Thinking about the mining industry. This audio podcast is also available as a free YouTube podcast: https://youtu.be/mRu7ufdck78

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

Find out more at: https://snowdenoptiro.com Prodessional Development courses: https://snowdenoptiro.com/professional-development/