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Resource investors that are new to the market might see quite a
few unfamiliar terms in press releases, and prefeasibility and
feasibility studies are definitely two that are key to know.
As the two are inherently connected to one another, it helps to understand
their differences to gain a better idea of what they mean and how theyre
used. They main thing to know, however, is that prefeasibility and feasibility
studies represent milestones for mining and exploration companies.
interfere with the final project. This can involve community issues,
geographic obstacles, permit challenges and more.
While prefeasibility studies are conceptual in nature, there are some key
factors investors will want to be aware of. A comprehensive prefeasibility
study should include detailed designs and descriptions for mine operation, as
well as cost estimates, project risks, safety issues and other important
information.
There should also be multiple options included in the study for tackling
different issues, as this will provide organizations with more ways to
overcome potential challenges.
What happens if results of the prefeasibility study are positive?
Negative?
Put simply, if a prefeasibility study results in a positive base case, the
company will likely move on to the next stage: a feasibility study. If the study
is negative, organizations may head back to the drawing board or abandon
their potential project altogether.
For instance, a company will use a feasibility study to figure out how much
money it will likely need to meet operating expenses, as well as how much
revenue a project needs to bring in to make it worthwhile.
What information do they include?
Feasibility studies cover many important issues, chief among them being the
technical, economic, legal, operational and scheduling issues related to a
project. Good feasibility studies should be able to answer questions
regarding all these topics.
More specifically, a feasibility study should feature information about
whether a project is technically possible, how much it will cost, whether its
in accordance with the law, how operations will work and when it can be
completed.
A feasibility study is usually conducted after producers have discussed a
series of business ideas or scenarios, state Don Hofstrand and Mary HolzClause of Iowa State University in a guide to feasability studies.
The feasibility study helps to frame and flesh-out specific business
scenarios so they can be studied in-depth. During this process the number of
business alternatives under consideration is usually quickly reduced.
Market analysis research can also be a vital part of the feasibility study
phase, and its important for investors to stay abreast of this topic. This type
of research is intended to ensure that there is demand for the metal or
commodity a project may produce. Market research also helps to zero in on
competition in the marketplace.
What are the next steps after a feasibility study is completed?