A concept study is the initial evaluation of the project’s feasibility and basic parameters. It includes: creating a conceptual design assessing resource requirements evaluating technical viability providing a preliminary cost estimate considering regulatory and environmental factors.   The study helps stakeholders understand the project’s basic shape, determine its technical feasibility, estimate costs, and identify any regulatory or environmental considerations. It serves as a foundation for further project development and investment decisions, allowing stakeholders to assess the project’s potential before committing to more detailed studies or resource allocation.