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Exploration & investment advisory

Independent technical review of ground you are considering — written for the person signing the cheque, not the person logging the core.

Technical due diligenceProject reviewIndependent opinion
The brief

Someone has shown you a project.

Most projects presented to investors are presented by people who need them to succeed. Our job is to read the same material without that need, and to tell you which parts of the story are supported by data and which parts are supported by enthusiasm.

The output is short. A technical due diligence report from us is typically fifteen to thirty pages, with the reasoning in the body and the raw material appended, because a document written to be read by a decision-maker has to be readable in one sitting.

We do not take a success fee, a finder's fee, or an interest in the projects we review. It is the only arrangement under which the opinion is worth anything.

Technical due diligence on a project or licence
Review of an existing resource statement
Budget and programme sanity-check
Written opinion, fixed fee, no success fee
River valley ground, surveyed before clearance
River valley ground, surveyed before clearance
Scope

What we examine.

The list is deliberately unglamorous. Most projects fail on the items nobody wanted to check.

Title and cadastreDoes the licence exist, is it current, does it cover the ground being discussed, and who actually holds it.
Data qualityWhere the numbers came from, who took the samples, and whether the QA/QC would survive a third party looking at it.
Resource basisThe estimation method, the cut-off, and whether the category assigned to the tonnes is defensible.
Programme and budgetWhether the proposed spend can produce the proposed result, and what the realistic figure is.
Access and logisticsRoads, power, water, and the difference between a site on a map and a site a truck can reach in the wet season.
ComplianceStatutory obligations, filings and renewals — the liabilities that transfer with the asset.
Process

Two to four weeks.

Short, because a due diligence that takes three months has usually cost you the opportunity it was meant to protect.

01

Data room

Everything the vendor has provided, plus a list of what is missing. The gaps are often the finding.

02

Independent check

Cadastre, imagery and regional data checked against the vendor's account, not through it.

03

Site visit

Where the decision justifies it. A single day on the ground routinely changes the reading of a data room.

04

Opinion

A written report with a clear recommendation and the conditions under which it would change.

Terms

The commercial detail.

Stated here so that the first conversation can be about the work rather than about how we charge for it.

ItemDetail
BasisFixed fee, agreed before work starts
IndependenceNo success fee, no finder's fee, no interest taken in reviewed projects
Typical durationTwo to four weeks including a site visit
OutputFifteen to thirty page written opinion with appendices
ConfidentialityNon-disclosure signed with all parties before the data room opens
Follow-onIf you proceed, our consultancy or drilling crews can execute — quoted separately and at your option
Questions

Asked often enough.

Will you speak to the vendor directly?

Only with your written instruction, and anything they tell us goes into the report as something they told us rather than something we verified.

Can you review a project outside your three countries?

For desk-based review, yes, across the region. For a site visit we will be honest about where our local knowledge stops being an advantage.

What if your opinion is negative and we proceed anyway?

That is entirely your decision and it does not affect the engagement. The report states what it states; what you do with it is a commercial judgement we are not being paid to make.

Do you sign the report?

Yes. Named, dated and signed, with the qualifications of the people who did the work listed.

Next step

Get a second reading.

Send what you have been shown. We will tell you what a review would cost, how long it would take, and whether there is anything in the material that makes the question easy to answer.

What we need from you
The project or licence in question
Whatever material you have been given
The decision and the deadline
Whether a site visit is possible