I think this is a great deal for DVP. ATM copper prices and even more so Zinc prices are low. The cure for low commodity prices is …. Low commodity prices. Both will go up in price in the future. Particularly Copper with increasing demand, lower grades and few decent discoveries. However in the meantime Li is the place to be and at this price they are picking up ESS cheap. Particularly with DVPs good mates at MinRes on board where theoretically they could truck the ore to Mt Marion for processing and save a heap on the capital costs at ESS ( thus greatly increasing NPV of pioneer dome).
However I agree with Bluegoose. ESS shareholders already voted down a scheme at 50c / share cash. Admittedly it was after Min res acquired 19.55%. However around 50% of shares voted against the scheme and you only need 20% to block a scheme arrangement.
If the DVP share price falls to $3 I also think there is a good chance of a No vote by ESS.
At the current price DVP is picking up ESS cheaply and there is great value there, particularly if they manage to process at Mt Marion and / or if there is any exploration success from the current drill campaign
GLTAHs
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