Ann: Mining lease lodged over Dome North Lithium Resource, page-13

If you read between the lines of recent announcements, we already are in final negotiations with off-take partners (plural). We have sent out pro forma agreements. There has been no mention of financiers or any negotiations with such people. Punters have to realise that ESS have a vast store of information on the prospects which they are not allowed to release to the market, but they can reveal to potential partners under confidentiality agreements. I keep saying that none of these agreements can be finalised till we have the final metallurgical results, promised this month - four days to go. What do we know:

1, We already have a JORC resource of over 11m tons of 1.2% lithia.
2. We are in serious, advanced negotiations with off-take partners.
3. There is no mention of any negotiations with financiers.
4. We are proposing a plant with a "life of mine" of about six years.
5. We have already lodged an application for a mining lease.

What conclusions can we draw from all this:

1. ESS and their consultants, believe that the information they have available and has been submitted is sufficient to convince the Mines Department that they have a mineral deposit which can be developed, and it will give a commercial return.
2. ESS believe that they can obtain the necessary capital to build the required processing plant, without recourse to traditional lenders.
3. ESS believe, from the geological information in their possession, that they can prove up sufficient new lithium resources to extend the life of the proposed plant to at least ten years and probably twenty.

This must be one of those rare opportunities to win multiples of the investment committed with low risk.

Where am I wrong?