It is all correct, as you have stated above @prawns, the thing is they are calling it a Feasibility Study.
I am not an expert on "Studies", some might call what AML are doing a Pre Feasibility Study, but it definitely isn't a Definitive Feasibility Study or a Bankable Feasibility Study.
The last two are what is required before a miner can approach banks or institutions for finance, and DFS or BFS cost $millions, are quite exhaustive in terms of scope and depth, and take up to 12 months to compile.
When the Feasibilty Study (or Pre DFS) is completed, the management will have a clearer picture of the baseline economics, the resource, the metallurgy and over-arching environmental impacts.
Then they make a decision to get more serious (or not), which would mean going to the DFS, BFS stage.
AML Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
