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Essential Minerals (ASX:ESS)
Essential is the current target of a takeover offer from Tianqi Lithium Corporation that prices it at 50c per share and there’s good reason for the offer, which represented a 36.3% premium to its 30-day volume weighted average price.
The company recently unveiled a Scoping Study which estimated that its Pioneer Dome project could deliver post-tax internal rate of return and net present value – both measures of a project’s profitability – of 40% and $367m respectively.
Capex has been estimated at $293m with payback in just 1.7 years.
This follows a 81% increase in resources to 11.2Mt at 1.16% Li2O for 129,000t of contained lithium.

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