Analysis of the known or anticipated need for a product, system, or component to assess the degree to which the requirements, designs, or plans can be implemented.
means a comprehensive study of the deposit from which all of the geological, engineering, operating, and economic factors are considered in sufficient detail that it could reasonably serve as the basis for a final decision by a financial institution to finance the development of the project for mineral production. The feasibility study considers defined resources, mining methods, potential production profile, and economic assumptions including metals prices and recoveries. The feasibility study also considers the environmental, permitting, and sociological issues associated with the development of the mine. The study is usually completed by an independent engineering firm and has cost estimates defined to +/- 15% or better.