Procuring is not the same as ordering. Placing an order is but one step in the procurement process. So it's quite OK to start procuring "in parallel" of the definitive study and ahead of a final decision.
The DFS for NAL came out after the mine was already operating and PLL didn't seem to mind about that . It was also a previously operating facility that required some upgrades, what Sayona might like to refer to as "half built".
As to who is right, we've seen that things that Dougal hints at don't necessarily transpire (was it misleading to say in January that the OTA is being finalised any week now...how many weeks?), so Arf is in the running with a pretty good chance
Ann: NAL Lithium Carbonate Plant Study Produces an NPV of A$3.2B, page-239
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