Resource projects do three levels of study into new projects:
Scoping
Prefeasibility (PFS)
Feasibility Study
If a project requires finance it becomes a Bankable Feasibility Study (BFS) as it has to match all banks requirements to deliver financing.
The different levels of assessment have different levels of accuracy:
Scoping +-30%
Prefeasibility (PFS) +- 20 to 25%=
Feasibility Study +- 10 to 15%
The greater the accuracy the more detailed the study.
A BFS can only use JORC classified Measured and Indicated reserves. No inferred at all. The other two studies can use whatever they want, even 'exploration potential' as no banks are involved at this stage.
acturtle
should run hard today, page-28
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