Yea, we all know the reasons for the ESS acquisition. But bad for shareholders that exited lithium just to be dragged back in. But it is what it is and we have to look forward. Who know lithium prices might recover? This things go in cycles.
They claim to have heaps of finance offers and will re-cycle the capital through 20% sale. The moment of truth is impending end July, maybe new financial year brings new tidings.
Deliver on the financing, get the rocks out, happy days ahead. If no money by end July, then maybe the project's crap and somebody's pants on fire.
At the very least (if no rocks to sell) they are selling time to pay the rent until the next opportunity.
But I do sense an imminent reversal. Just a feeling no justification whatsoever.
Fair Value, page-68
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