Pre-feasibility

SENET would perform a comprehensive study of the viability of a range of options for a mineral project that has advanced to a stage at which the preferred mining method in the case of underground mining or the pit configuration in the case of an open pit has been established and an effective method of mineral processing has been determined. It includes a financial analysis based on realistic assumptions of technical, engineering, operating, economic factors and the evaluation of other relevant factors that are sufficient for a Competent Person, acting reasonably, to determine if all or part of the Mineral Resource may be classified as a Mineral Reserve. The overall confidence of the study should be stated. A Pre-feasibility Study is at a lower confidence level than a Feasibility Study.

Basis of Estimate (Accuracy 20-25%)

This Class of estimate, sometimes called a preliminary estimate, represents a first realistic assessment of a project's capital development cost. This type of estimate requires that sufficient bench scale metallurgical test work is completed in order to determine the process flow sheet and approximate material balance. For an underground mine, sufficient mine planning should have been completed in order to identify preliminary surface and underground layouts and shaft configurations. Similar appropriate planning should be done for open pit configurations. Some general arrangement drawings would be prepared and major equipment sized. No special equipment specification would be prepared and enquiries would be limited to single suppliers who could supply costs on a budget basis. The compilation of the estimate would depend on a mixture of techniques, including approximate quantity take-offs, factoring techniques and unit costs.

• Scoping
• Pre-Feasibility
• Feasibility
• Definitive Cost Estimate
• Project Implementation