"Its good and bad in many ways but to the individual investor probably depends if you value 2X or 3X your money now or 10X your money in 2 years"
Surely your kidding Ironman - you think we could get 10X our money in a few years??
Interesting Cosmoman - I would probably be OK with that price.
Lets try to value ESS another way by Peer comparison by the amount of Spod reserve the market values - lets use CXO
CXO have 7.4 mt RESERVE of ore at a similar grade to ESS
CXO MC 2.5B, so Value at 337milion per 1mt of Reserve
ESS currently don't have a Reserve, however its just around the corner and I calculate after the deep drilling they could have around the 10mt which could be converted to Reserve status
so 10mt at 337mil gives us a value of 3.37Billion for the (Potential) Value of ESS at a stage down the road right before mining.
Divide this by the SOI around 270mil including options and lets add 200m more Cap raising at $1 raising, lets say 470mil SOI
IE this gives ESS a future potential of $7.17, ie 10X current sp
....so an offer of 800m now with only the 270m SOI including options would give us SP of just under $3.00and yes I would take that now rather than 7 later. As they say a bird in the hand is worth 2 in the bush..
Just some fun and games playing with numbers here while we wait for our loooong long weekend to come to an end.
Ann: Trading Halt, page-107
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