The obvious path for ESS is direct ship or a 2% upgrade, if a market can be found. There will still be a significant processing capital cost as any product will have to be crushed and probably screened, at least. However the cap cost will be much lower than producing 6% concentrate.
If we do go the direct ship route, the concentration of the company should be much expanded exploration to increase the supply of direct ship ore, if there is a market, rather than spend money on building processing facilities on site. That can come later if and when the price drops a lot and efficiencies are required to reduce costs. We are not likely to get there in the next few years.
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