The paper reviews some characteristic features of feasibility studies and discusses the need for a wide scope at the pre-feasibility stage. The performance of recent Australian gold mines against the predictions contained in their respective feasibility studies is examined, resulting in a recommendation that feasibility studies need to be improved The advantages to be gained from having a feasibility study reviewed by an independent authority are discussed, and some of the reasons for using consultants are listed. Two examples of successful optimisations in the early stages of pre-development studies are described briefly and the benefits achieved are presented. The paper concludes that feasibility studies need improvement to enhance the confidence of investors in the mining industry.