Hi All - great days ahead for ESS investors.
I see CXO currently 2.1.B market cap
Out of CXO's 14.7Mt Resource they can only mine 7.4Mt of it (economically), ie Reserve.
Below is CXO's ore reserve - more than half of it underground.
ESS's Management have already stated that after the metallurgy come back it can move the inferred to Indicated with a total of around 7-8mt
Once the Scoping studies spell out the economics we can move all that to RESERVE (probable category)
IE we will have similar RESERVE to that of CXO but IMO ESS looks way simpler to mine in regard to the deposits.
ESS have a beautiful lode style deposit with CADE and high grade core with much higher percentage most likely minable via Open Pit.
Recent Shallow DD and the Current Metallurgic analysis - should be a formality looking at those Core photos
We know they are looking at the fines portion when processing too.
Scoping study also to commence soon - as stated by Management should be a relatively quick process due to already completed studies
This SS IMO is also a formality - off course the project is economic!! IMO it was Economic with last years spod prices - since then spod/carb/hydroxide prices have doubled again.
Good luck all.
