Scoping Study
An order-of-magnitude assessment (preliminary economic assessment) that screens concepts and mining options to decide whether a project justifies further investment.
Learn moreConsulting · Mining Studies
Mining studies: from concept to a bankable decision
Scoping, pre-feasibility and definitive feasibility studies for open pit and underground projects — the structured, defensible pathway that turns a Mineral Resource into a funded, build-ready mine. (Also known as a preliminary economic assessment through to bankable feasibility.)
What is a mining study?
A staged process for de-risking capital
A mining study is a structured technical and economic assessment that tests whether a mineral deposit can be developed into a profitable mine. Each stage — scoping, pre-feasibility and definitive feasibility — deepens the detail, tightens cost-estimate accuracy and reduces uncertainty before a final investment decision.
Studies are the language of the investment community. A well-run study produces the disclosable, JORC-aligned reporting that boards, financiers and the ASX rely on to commit capital.
Go Engineering leads and integrates multidisciplinary study teams — coordinating geological, geotechnical, metallurgical, environmental and other specialist workstreams through our trusted network of subject-matter experts, so every input aligns to a consistent project strategy and a single integrated study outcome.
The purpose of every study stage is the same: to spend a small amount of money to decide whether to spend a large amount of money — with progressively greater confidence.
The Study Pathway
Three stages, increasing confidence
| Study stage | Question it answers | Typical accuracy | Resource / reserve basis | Key outcome |
|---|---|---|---|---|
| Scoping Study | Is the concept worth pursuing? | −25% / +50% | Inferred & above Mineral Resource | Go / no-go on further study |
| Pre-Feasibility (PFS) | Is there a viable, realistic case? | −15% / +25% | Indicated Resource → maiden Ore Reserve | Preferred development option |
| Definitive Feasibility (DFS) | Should we build it, and how? | −10% / +15% | Measured & Indicated → Ore Reserve | Decision to mine & project finance |
Indicative cost-estimate accuracy ranges align with accepted study-process guidance and the JORC Code (2012). An Ore Reserve cannot be reported on a scoping study — at least a pre-feasibility study is required.
Choose a stage
Explore each study in detail
Pre-Feasibility Study (PFS)
A realistic, modifying-factor-supported study that selects the preferred development option and underpins a maiden Ore Reserve.
Learn moreDefinitive Feasibility Study (DFS)
An investment-grade, bankable study providing the technical and financial basis for a decision to mine and project financing.
Learn moreInside a study
The workstreams we bring together
Geology & resources
Resource modelling and classification that set the foundation for every downstream estimate.
Mining & design
Method selection, pit and stope designs, and access and infrastructure planning.
Scheduling
Production schedules that sequence extraction and define the mine's value profile.
Geotechnical & hydro
Slope and ground conditions, dewatering and the constraints that shape the design.
Processing & metallurgy
Throughput, recovery and flowsheet inputs coordinated with study partners.
Cost & economics
Capital and operating cost estimation feeding a discounted cash-flow valuation.
How we work
A clear, milestone-driven engagement
Scope & basis of study
We agree objectives, study level, accuracy targets and the basis of study so expectations are clear from day one.
Technical workstreams
Mining, geotechnical, scheduling and cost streams progress in parallel, integrated against a single project model.
Trade-offs & optimisation
Options are tested and optimised — method, scale, cut-off and sequence — to converge on the value-maximising case.
Reporting & sign-off
Findings, estimates and Competent Person statements are documented to a disclosable, decision-ready standard.
JORC Modifying Factors
What converts a Mineral Resource into an Ore Reserve
Under the JORC Code (2012), an Ore Reserve can only be declared once the Modifying Factors have been assessed in at least a pre-feasibility study. We address each of them.
MiningProcessingMetallurgicalInfrastructureEconomicMarketingLegalEnvironmentalSocialGovernmental
FAQ
Mining studies, answered
How long does a mining study take?
Scoping studies typically take weeks to a couple of months, a PFS several months, and a DFS six to eighteen months. Duration is driven by drilling and test-work programs, the number of development options carried, and the engineering definition needed to reach each stage's target accuracy — the staged process described in the AusIMM Study Processes Handbook (Monograph 35).
Do I need to complete every study stage?
Not always, but each stage exists to retire risk before larger spend is committed: the scoping study tests the concept, the PFS selects the preferred option and can support a maiden Ore Reserve under the JORC Code 2012, and the DFS provides the engineered definition financiers generally expect before a decision to mine.
When should a project move from a scoping study to a PFS?
When the scoping study shows at least one economically attractive development case, the Mineral Resource contains sufficient Indicated material to support potential Ore Reserves, and the remaining uncertainties — metallurgy, geotechnical conditions, permitting, infrastructure — are defined well enough to be studied rather than assumed. Progressing earlier risks spending PFS money studying the wrong option.
What accuracy can I expect from each stage?
Scoping is about minus 25 to plus 50 per cent (often quoted as plus or minus 30 to 50 per cent), a PFS about minus 15 to plus 25 per cent, and a DFS about minus 10 to plus 15 per cent. Accuracy tracks engineering definition: factored estimates at scoping, engineered quantities at PFS, and detailed engineering with firm quotations and test work at DFS.
Can a study support an Ore Reserve?
Yes. Under the JORC Code 2012, converting Mineral Resources to Ore Reserves requires the modifying factors — mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and government — to be assessed at a minimum of pre-feasibility level. Our studies integrate mine design, scheduling and economic analysis so the Ore Reserve is an output of the study, not an assertion alongside it.
Who provides the geology, geotechnical and metallurgical inputs to your studies?
Go Engineering owns the study management, mining engineering and economic workstreams, and leads the multidisciplinary team around them. Where a study requires specialist inputs — resource estimation, geotechnical assessment, metallurgical test work, hydrogeology, environmental and approvals — we coordinate and integrate those workstreams through our trusted network of subject-matter experts, delivering a single integrated study outcome with clear sign-off for each discipline.
Sources: JORC Code 2012 (jorc.org) · AusIMM Study Processes Handbook — Monograph 35 (2024)
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Which study stage are you at?
Tell us the deposit, the decision you need to support and the deadline. We will confirm the stage, the scope and the Competent Persons.