exploration company’s generally always raise money first before...

exploration company’s generally always raise money first before drilling, this allows them to fast track drilling, allows them to expand the drilling if they want with greater depth or meters, or a second or 3rd rig, if they did not raise money before hand and hit some promising ground they may then try to raise money but may have delays getting funds to keep drilling progressing.

if they do hit a good lithuim deposit while drilling and then the SP goes to say 6 cents then they may want to raise money again a perhaps 5cents.

on the flip side you have to understand that exploring is very high risk, even when it has excellent fundamentals and a high probability of hitting lithium nothing is certain, let’s say they drill it before raising money and they hit nothing and the SP tanks to 1.5c then the company now has to try to convince sophisticated investors to front up money say 1c on the hope that there could be lithium somewhere still there, INVEST IN THE STORY NOT THE RESULTS.