Feasibility Study (PEA / PFS / DFS)

The Three Steps

1. PEA (Preliminary Economic Assessment): The “What If?” stage. A rough guess using inferred resources. High error margin (+/- 40%).
2. PFS (Pre-Feasibility Study): The “Trade-off” stage. Deciding between mining methods and refining flows. Lower error margin (+/- 25%).
3. DFS (Definitive Feasibility Study): The “Bankable” stage. Detailed engineering and quotes. This is the document used to get a bank loan. Error margin (+/- 15%).