TLEA should start buying on-market at or below 50c. To get as much of ESS as possible, upto the the 20% threshold to match MIN.
The scheme was overwhelming rejected, even excluding MIN, I think it wouldnt have got up even without MIN's recent activity.
TLEA reasons to buy: (A) Prep for takeover (B) Prep for negotiations with MIN (C) Stay in the game (D) Sell to MIN and walk off with a profit once MIN is forced to bid. AS 2IC says has to be above the greatest price paid recently, STX strategy with WGO.
Should force MIN over the line early to Takeover if it gets a whiff TLEA are buying. (TLEA could not buy during scheme).
I am not a trader, I sold 5% of ESS at 56c, that is all I bare to part for another eventful purchase. So far just happy to sit... wait fro someone to improve offer.
As 2IC says MIN won't do ESS shareholders any favours if it comes to lonely bid.
Anyway, TLEA has the game plan, ESS is a willing takeover target, so nothing hostile. had a 50C Cash offer. MIN will at least have to do 60c in scrip. TLEA needs to decide what its true maximum, buy now... then go for bid. I dont see how it can loose, either pushing MIN up and making a profit, or actually winning ESS.
