Model Answer has worked with engineers who deliver real-world mining projects to develop a free Excel template purpose-built for scoping-level project evaluations
This free Excel model gives mining professionals a structured, auditable, and fully flexible tool to assess the viability of early-stage projects. Whether you're in corporate development, technical services, or equity research — this is your head start!
Scoping Study Model Template
What the Model Covers
✅ Production & Physicals
Tonnes, grades, recoveries, throughput, stockpiling
Includes dynamic charts for production, feed grades, strip ratio, and metal output
✅ Capex, Opex & Cashflow
Development & sustaining capital
Operating costs split by mining, processing, etc.
Royalties, taxes, working capital
AISC visual breakdown
✅ Integrated Financial Statements
Project-level P&L
Cash Flow Statement
Simplified Balance Sheet
✅ Project Return Analysis
NPV, IRR, payback period
Automated sensitivity table (e.g. price, capex, opex)
✅ Scenario Manager
Switch between the base case and custom cases
Easy comparisons via dynamic charts
✅ Integrity & Error Checks
Balance validations
Calculation sanity checks
Flag alerts for broken links or missing inputs
Built by Model Answer. Reviewed by Mine Builders.
This is the same structure we’d use when kicking off real project analysis — only we’ve cleaned it, templated it, and made it free.
Credits: Thanks to Matt Bourke (Wood plc), Steve and Peter Jukes, Tom Conway (Turner & Townsend JukesTodd), Jim Moore (Mine Planning Services), and other (anonymous) contributors for your input!
👇 We also designed a comprehensive modelling course on this Scoping Study template
