preliminary feasibility study

PEN's PFS is due very soon and despite what some would suggest, it is an important step to PEN becoming a producer. The company has kept to schedule very well in the past so this one could come through any day.
Preliminary feasibility studies or "pre-feasibility studies" are used in due diligence work, determining whether or not to proceed with a detailed feasibility study and as a "reality check" to determine areas within the project that require more attention. Preliminary feasibility studies are done by factoring known unit costs and by estimating gross dimensions or quantities once conceptual or preliminary engineering and mine design has been completed. Preliminary feasibility studies are completed by a small group of multi-disciplined technical individuals and have an accuracy within 20-30%