"WIth ESS, nothing is going to happen till the outcome of the...

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Bluegoose

3,213 Posts.

1576

04/02/23

13:54

Post #: 66070324
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Originally posted by trousergecko: ↑

Hmmm... dont think Chris threw in the towel on WGO. He has bought a significant stake without triggering a takeover, which is a shrewd move. I was never convinced he wanted all of WGO, just wanted a strong partcipication in the projects next door to the centre piece jewel, NWE, which is trying to steal from me and other shareholders (I also own WGO to about the same level, so I have no benefit in calling NWE a jewel other than stating a fact I see). 20% will be a deciding vote when the rangling on who owns what gas, and the direction of that gas to customers. Chris wanted a big say in ALL East Perth Basin projects, he is achieing that for MIN. He paid over the money Gina was offering on market for WGO to get most of his stake 20%.

WIth ESS, nothing is going to happen till the outcome of the Foriegn Investment Board and Jim. No need to rush for Chris, their hasn't been to many acceptances yet. Buying above 50c is accomplishing 2 things:

(1) signalling to shareholders somebody else is interested, dont sell your shares yet. If you do sell, sell them above the offer so IGO et al, can't buy, keeping those shares out of their hands.
(2) Chris (and /or others) able to accummulate shares to a level and not report, which would trigger a frenzied price.

All speculation.... but I can the force from Chris

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"WIth ESS, nothing is going to happen till the outcome of the Foriegn Investment Board and Jim"

Is this correct?? as I haven't seen anything about FIRB mentioned in an ESS announcement.

And I would imagine, this would not go to FIRB until shareholders vote on the scheme and there is a final acceptance of any bids and valuation.

Hence I would think FIRB is the last step and we should see either an alternative bid well before that, or (almost definitely) a higher bid by IGO.

IGO / Tianqi will not achieve 75% at 50 cents so they will need to stump up if they wish to appease holders and get over the line.

ESS Price at posting: 53.0¢ Sentiment: Hold Disclosure: Held
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"WIth ESS, nothing is going to happen till the outcome of the...

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