Unless the Directors are aware of issues that have not been...

Unless the Directors are aware of issues that have not been advised to shareholders in relation to the resource this offer certainly looks to be underdone.

I am sitting on a 471% return at the closing price (just below the offer) today so if this goes ahead I am still doing well but look at where the share price has been - ESS:

• reached 58/ 60c highs Jan, April , May, Oct 22
• reached 50c or more April, May June, Aug, Sept, Oct 22
• Not forgetting 72c April 22

There was a dip into the low 30s Jun/July 22 and Dec 22 /Jan 23.

If looking at the Share price starting point to calculate a premium low 30s does not IMHO reflect a reasonable historic profile of the share price since the start of 2022. The 50c offer really represents no real premium if you consider roughly where the SP has traded except for the June/July 30/40c dip and the steady fall since mid November into the low 30c.

Yes 50c represents a reasonable premium over the low 30s share price - but given the resource and prospects from further exploration, the demand for lithium and the profile of the share price since Jan 22 it would seem to me that 55/60c would be the minimum acceptable price with 65c acceptable - that said I have seen enough examples of opportunistic acquisitions like this to expect it to go ahead.