Ann: Ceasing to be a substantial holder, page-16

There is a school of thought that the superior strategy for later bidders is to make a high bid and blow others out of the water. Of course, this is only possible when the target is very much undervalued, which is the case with ESS. I know that this has been the strategy used by Chris Ellison in previous takeovers. And Chris Ellison (Mineral Resources) are the natural owners of Pioneer Dome. I can't see him not being in the battle eventually. ESS is small beer for MIN and fits with their lithium strategy.