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Feasibility Study Cost Estimates. ©2002 Dr. Bradley C Paul. Feasibility Study. Processes are actually worked out and planned checked for technical flaws checked for permit flaws Format Pre-feasibility may give you a lot of factored cost estimates

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feasibility study cost estimates

Feasibility Study Cost Estimates

©2002 Dr. Bradley C Paul

feasibility study
Feasibility Study
  • Processes are actually worked out and planned
    • checked for technical flaws
    • checked for permit flaws
  • Format
    • Pre-feasibility may give you a lot of factored cost estimates
    • Start Shifting big ones to itemized cost estimates
    • Itemized estimates become more detailed
feasibility study overviews
Feasibility Study Overviews
  • Major Cost Items are Identified
    • Quotes are secured on major cost items
    • Minor items tend to be listed with general comparison cost estimates attached.
  • Important error avoid - missing and double counting.
pre feasibility feasibility contrast
Pre-Feasibility/ Feasibility Contrast
  • Major Cost Items from Pre-Feasibility move either to Itemized Cost format or are expanded
  • Example - Our Mine Shaft could easily be a big cost
    • Advance rate likely to be 8 feet per day using 3 eight hour shifts in solid
    • Only get 2 feet day through first 200 feet of unconsolidated
    • Lets Detail the crew
shafting crew
Shafting Crew
  • Typical Sinking Crew would be 5 people
    • 4 laborers – 1 supervisor
    • doing rounds, support ect. (from SERPA)
    • wages $15.46/hr (1997 base from WMCS)
    • 4*24*$15.46 = $1,484/day
    • Time 100 days for first 200 ft
      • 69 days more for next 550 ft through solid rock
    • 169 days at $1,484/day = $250,823
    • I’ll deal with supervisor later
support people
Support People
  • Engineering/Technical Crew
    • 1 person (some would use 2) (3 for 3 shifts) SERPA
    • $16.15/hr 1997 cost WMCS
    • $388/day * 169 days = $65,504
  • Mechanical Crew
    • 2 people (6 for 3 shifts) SERPA
    • $20.98/hr 1997 cost WMCS
    • $1007/day*169 days = $170,190
surface crews
Surface Crews
  • Surface and Yard Workers 2
  • Rate $11.89/hr
    • 2*$11.89*24*169 = $96,452
  • Sinking Hoist Operator
    • $16.50/hr*24*169 = $66,924
supervisory crews
Supervisory Crews
  • 1 supervisor/shift $23.94/hr
    • $23.94*24*169 = $97,101
  • Total Labor Cost
    • $746,994 say $747,000
  • Indexing Labor
    • $747,000* 17.89/16.15 = $827,500
the burden of burden
The Burden of Burden
  • Workers get fringe benefits
    • health, vacation time etc.
    • government mandated programs
      • social security / medicare / unemployment / workers compensation
  • Often Expressed as a percentage of wage
    • Quarries around 30%
    • Metals commonly around 40%
    • Some coal may be 60%
    • WMCS estimates 36% for Shaft Sinking
dropping the burden on the project
Dropping the Burden on the Project
  • $827,500 * 1.36 = $1,125,000
  • Explosives Cost
    • Rounds at 4 lbs/ton
    • Need to know concrete thickness
      • have about 15 inch thick (some squeeze for horizontal stress)
      • for 20 ft finished diameter - need 22.5 feet
        • with some over-excavation 23 feet
    • Rock density about 170 lb/ft^3
      • 35.3 tons per foot of Advance
having a blast
Having a Blast
  • 35.3 tons/ft * 4 lbs/ton = 141 lbs of explosive per foot of advance
    • 106,000 lbs @ $1.54/lb = $163,000
  • At about 1 round shot/day
    • 110 caps/day * 169 days = 18,590 caps
    • @$1.81 each = $33,650
  • Chord and Supplies about 50% of caps (no boosters here)
    • $16,824
breaking cost
Breaking Cost
  • $213,500 for explosives
  • Drilling Consumables at about 25% of explosives
    • $53,400
  • Breaking Cost (less labor counted elsewhere)
    • $267,000
  • Index to end 2002
    • $267,000 * 149.7/149.1 = $268,000
non labor mucking costs
Non-Labor Mucking Costs
  • At $2.50/ton (include disposal)
    • 35.3 tons/ft * $2.5 = $88.30/ft
    • for 750 ft $66,216 (current cost)
  • Concrete Cost
    • 23 ft outside diam - 20 ft inside
    • 3.75 cubic yard per foot of advance
    • Concrete at $80/cubic yard delivered to site
    • $225,000 for concrete
other supplies
Other Supplies
  • Steel cost at about 1.5 times concrete
    • $337,500
    • includes materials to advance utilities down shaft and put in guides for skips
  • Concrete and Steel
    • $562,500
  • 10% for misc supplies
    • $56,250 total
  • Supplies Subtotal $618,750
direct cost of shaft
Direct Cost of Shaft
  • Labor $1,125,400 + Breaking $268,000 + Mucking $66,200 + Supplies $618,750
  • $2,078,350
  • 10% contingency $2,286,200
  • 15% contractor mark-up and mobilization
    • $2,629,000
  • Note that we did consider some site specific problems with large amounts unconsolidated Overburden and ground stresses
pre feasibility feasibility contrast16
Pre-Feasibility / Feasibility Contrast
  • At Order of Magnitude just scaled off of someone elses approximate cost
  • Pre-Feasibility was either a factored cost estimate or a simple itemized cost estimate (ie cost per foot of shaft)
  • At Feasibility stage it became a much more carefully itemized exercise
    • we were still flakey on cost of service lines pipes
  • As move to Budget Authorization likely bring in contractors to bid specifically on the job
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