They're doing both at the same time
That's the beauty of this company - they're not wasting any time at all. I would suggest you check out their latest investor presentation and timeline of activities.
Simultaneously: Scoping & feasibility studies + Met test work + drilling
They have a path to production that they're working on and im sure they're receiving advice on direction to take from MinRes (ASX:MIN)
If the market was in top shape this would now be at a $1B valuation (double from here)
The global market is choppy due to recession fears for next year. In addition to that the Goldman Sachs report. Even the big players like PLS are taking a beating today (but so are non-lithium stocks)
While i do agree that lithium prices will eventually cool down, i think GS analyst are way off the mark. Particularly because projects never come online when they say they will, and there are a lot of hurdles along the way. I don't see demand dying down as the world transitions to EV's and so on. Spot prices are still very high and extremely profitable
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