Ann: Trading Halt, page-6

Clause 38 of the JORC code defines a ‘scoping study’ as:
… an order of magnitude technical and economic study of the potential viability of Mineral Resources. It
includes appropriate assessments of realistically assumed Modifying Factors together with any other
relevant operational factors that are necessary to demonstrate at the time of reporting that progress to a
Pre-Feasibility Study can be reasonably justified. …
Scoping Studies are commonly the first economic evaluation of a project undertaken and may be based on
a combination of directly gathered project data together with assumptions borrowed from similar deposits
or operations to the case envisaged. They are also commonly used internally by companies for comparative
and planning purposes.
In some jurisdictions, scoping studies are referred to as “preliminary economic assessments”.