Refer to SCHEME BOOKLET:
(Page 51) The Directors caution that if the Scheme is not approved, the price of the Essential Shares may fall.
ESS SP will most likely go under 40c if vote fails. Probably another dilutive raising after that.
(Page 17) The Pioneer Dome Lithium Project does not have a published JORC Ore Reserve.
Even if the deal goes through, DVP still need to punch heaps of holes to firm up the economics of the ore body for the project to be bankable. Maybe build a decline, drill underground and test the strike at depth. All these cost $$$ and DVP has the cashflows to execute such works. DVP contractors are also happy to accept $3.20 stock as payment in lieu of services - that is a vote of confidence.
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