The Angas Zinc Mine (Angas) is a poly-metallic, underground mine in the Adelaide Hills that has been developed through arguably one of the most volatile financial time periods in living memory. From boom times during the commencement of the project, the global financial crisis (GFC) through the stabilisation of the operating period and then a subdued capital market for the period where mine life extension was targeted, the financial environment has always presented a different set of challenges. Indeed even the Underground Operators' Conferences that have been held across the span of the project allude to these changes: Boom and Beyond', Launceston (2008); Safe, Innovative and Sustainable', Canberra (2011) and Managing the Margin' in Adelaide (2014).Angas gives a rare opportunity to see the entire life-of-mine of a project and its economic performance within a relatively short time frame. Angas, owned and operated by Terramin Australia Ltd (Terramin), will have undergone resource estimation drill out, feasibility study, permitting, commissioning, operating and completion and rehabilitation all within a period of approximately ten years. A number of sensitivities of the project were tested, particularly in the bankable feasibility study (BFS) stage and the aim of this paper is to identify the factors that impacted the operations profitability the most, whether they were identified preproduction or not. The key sensitivities assessed in the BFS were typical of similar studies, including operating costs, metal recoveries, capital costs, zinc prices, lead prices and exchange rates. The manner in which these sensitivities presented themselves in real life were not as anticipated and modelled in the feasibility study and were also heavily impacted by technical challenges.CITATION:Harris, A, Laughton, K and Ranford, J, 2014. Feasibility to mine completion - the real impacts on project economics, in Proceedings 12th AusIMM Underground Operators' Conference 2014 , pp 99-110 (The Australasian Institute of Mining and Metallurgy: Melbourne).