Sydneyguy, mate doesn’t matter whether a scope study or a PFS OR...

Sydneyguy, mate doesn’t matter whether a scope study or a PFS OR DFS, the goal posts and variables costings change every day. A DFS today is almost useless and not worth the millions $$. The gold prices, fuel prices, wages, contractors, explosive costs, drillers costs change,FIFO, consultants change without notice. A Definitive Feasibility Sudy today for a gold mine depending on size is between $1m to $10m. Then at bottom says: things could change, only based on current prices and adjusted if metalPrice drops. Most only gave +-5% which is useless today. So in Australia most states take between 2 and five years to approve a mining lease and EPA approvals. So your DFS is up to five years old before you break the ground. That’s why companies opting for a scope study prior to applying for mining lease ( to ensure viable) and then another study after receiving mining lease to adjust price increases. So I’m not sticking up for TBA doing a scoping study a couple months before mining. This was the sensible thing to do. All was based on current pricing. I can’t blame them for that. No point getting a builder to give you a price to build a house and then build it 5 years later. Doing a scoping study 3 months before mining based on current prices was the only right decision TBA ever made. Whether a DFS or scoping study if it’s not mined properly with grade control and managed by experienced personnel and all mined on a set budget, will still fail as did TBA. A case in question is QLD government increased the royalties tax on coal from 7% to 40% in December 2022. So the $10m DFS not worth the paper it’s written on. NSW oalnmkners pay 8.2% and will Probably follow QLD. DFS were popular 20 years ago but not so popular today because of continuing changing prices of costs.