All of those companies are in a different league to ESS and either producing or developing in LTRs case.
LTR got no real uptake from institutional investors until they conducted their large cap raise after releasing their DFS.
CXO would be best considered as ESS closest peer and they also had no real institutional buying until their large cap raise after releasing their DFS. CXO don’t even get reported on by some of the brokerage houses covering the lithium industry due to the size disparity with other Australian lithium miners and developers.
Instos can go jump as far as I’m concerned, ESS are looking for customer financing and if equity needs to be raised I would prefer the offer to go to a partner than instos. The level of SP volatility that CXO and LTR suffer from thanks to their institutional investors could be largely avoided if we can stay away from them.
My preference is to lock in two quality partners but we will I think have a good chance of getting a quality financing package if we are willing commit to a single large offtake customer/partner.
ESS Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
