Prospect Resources Limited announced that it has developed a scope of work for an Optimized Feasibility Study, for a staged development of the Arcadia Lithium Project ("Arcadia" or the "Project"), from a first stage of 1.2Mtpa, to 2.4Mtpa. Further, Prospect announced that Perth based engineering consulting group, Lycopodium Ltd. has been appointed to complete the Feasibility Study. Lycopodium is a good fit given its past relationship with the Company and familiarity with the Project, as well as being leaders in Australia and Africa in designing, costing process plants and implementing projects across a wide range of commodities, including lithium. Lycopodium's primary Scope of Work is the supervision of metallurgical test work, optimization of the staged 1.2Mtpa to 2.4Mtpa flowsheet, design for the process plant, as well as related infrastructure including site power reticulation and on-site water treatment and distribution. The engineering work during this stage will enable formal quotations to be secured from the market, in order to define the Project CAPEX to a Feasibility Study level of accuracy (+/-15%). The Optimized Feasibility Study will include: Substantial Front-End Engineering and Design ("FEED"); Evaluation of modular potential to reduce development and operational risk; Review of market pricing for Spodumene and Petalite products; Reducing execution schedule risk in providing greater accuracy on key equipment selection and sizing; and, Analysis of resultant project economics.