News: ESS Tianqi Lithium Terminates Plan Of Acquiring Essential Metals, page-120

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readyaimfire

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27/04/23

13:53

Post #: 67481332
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Originally posted by WhatsTheTip ↑

MIN's 19.55% has served purpose #1 already, ESS ore is still available and hasn't been locked up by TLEA.

It continues to serve purpose #2 - It is impossible to get to 90% in a hostile takeover without MIN's approval. It is practically impossible to have a successful scheme of arrangement takeover because some shareholders will vote no and some won't vote meaning 19.55% might as well be 25.05%.

If MIN's plan for ESS is obtaining a source of DSO to Mt Marion then there may be no need for a takeover. What is required is getting Tim & the Board of ESS to accept a life of mine DSO contract and basically abandon their Spod. concentration plans. If ESS doesn't have this strategy change, MIN may have no choice but to takeover ESS, turf them all out and install its own management team. If this is the strategy, waiting a few more months until takeover bid restrictions end wouldn't be a problem.

Not held, but watching with interest.

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"What is required is getting Tim & the Board of ESS to accept a life of mine DSO contract "

Now that would be a disaster for ESS shareholders!

ESS Price at posting: 44.5¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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News: ESS Tianqi Lithium Terminates Plan Of Acquiring Essential Metals, page-120

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