Fresh Thinking: The 3-Minute Read. Episode 110

Here’s your 3-minute quick read of Fresh Thinking by Snowden Optiro’s podcast Episode 110.
We’ve pulled out the key insights and takeaways—perfect for when you want the value, minus the headphones.

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How Banks Really View Mining Projects: A Unique Perspective: Geological Roots, Banking Insights, Consulting Expertise

In our latest Fresh Thinking podcast, we step beyond the geology and into the financial engine room of the mining industry – the banks. Host Tarrant Elkington, our general Manager, chats with Snowden Optiro’s newest Executive Consultant, Bob Jankovic, who brings more than 35 years of global experience, including stints in technical roles at Scotia Bank and Macquarie Bank.

So how do banks assess mining projects, and what should juniors know before knocking on their doors?

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When Do Banks Get Involved?

According to Bob, the timing is critical. Traditional lenders typically engage after a Bankable Feasibility Study (BFS) is complete and the project is fully permitted. At this point, banks may issue term sheets and begin arranging finance — often to the tune of hundreds of millions.

“The bank wants a technically and legally de-risked project. That’s when they step in to finance development,” Bob explains.

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Due Diligence: It’s Not Just Box-Ticking

Contrary to what some may think, lenders dig deep into the technical detail. Their review goes well beyond scanning the BFS.

They examine:

• The geological model and resource classifications
• Dilution, recoveries, and metallurgical assumptions
• Water and environmental management
• The overall realism of the mine plan

“A lot of risk starts with the block model,” Bob notes. “That’s often where over-optimism creeps in.”

Banks will often commission independent technical reviews to validate key assumptions — and projects that anticipate this by bringing in consultants early tend to stand out.

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Equity vs. Lending: Two Different Worlds

While debt lenders prefer lower-risk, fully permitted projects, investment bankers may get involved earlier in the mine lifecycle. The equity side is more tolerant of risk and often supports exploration-stage companies with quality assets and strong management teams.

“In investment banking, it’s about spotting a promising project early and helping shape it over time,” Bob says.

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Tips for Juniors: Credibility Is Everything

Bob’s advice to junior companies is clear: invest in high-quality technical work, surround yourself with experienced professionals, and build a credible story.

“We want to see teams who want to build a real project, not just market one,” he says. “Confidence in geology and QAQC goes a long way.”

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This episode offers a rare window into how banks think — and why early-stage technical rigour, peer review, and independent validation can be the difference between a financed project and one that stalls at the gate.

🎧 Listen to the full episode on Spotify, YouTube, or your favourite podcast platform. YouTube
🔗 Need support applying these methods in your projects? Contact the Snowden Optiro team: contact@snowdenoptiro.com

About Bob Jankovic

Bob Jankovic – Executive Consultant – Toronto

Bob has over 30 years of experience in mineral exploration and resource management. He is an expert in mineral asset reviews and technical reporting. Bob’s notable achievements include overseeing 40 mine and exploration geologists, driving operational analysis, and increasing asset values. Experienced in deposit and grade interpretation, grade control and reconciliation. He has extensive experience in defining the operational efficiencies and mine plan achievement. Specialized in copper, gold, base metal commodities.

Bob is committed to using his extensive knowledge in geology and strategic leadership to deliver exceptional results.

If you would like to contact either Tarrant or Bob: contact@snowdenoptiro.com

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Want to hear or watch the full podcast?
Catch the full conversation as an audio podcast on Spotify – and don’t forget to Subscribe for more Fresh Thinking.

Here is a LINK to our 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.

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.

LINK to Snowden Optiro website