I certainly won't be voting to approve anything less than $1.50...

I certainly won't be voting to approve anything less than $1.50 per share. Even that is a steal.

Let's not forget that barely a month ago, ESS appointed a new General Manager for Marketing & Strategy. Does anyone honestly think that his first job as head of strategy would be to recommend selling the company for $130m?

A few weeks ago we were trading at 30c. Now we're over 50c. It seems to me that someone at ESS has made a pretty good strategic decision.

The board have presented us with one option to move forward - sell the company.

Sometime in the next 2 weeks they will present us with another option - develop the resource.

The Scoping Study will give us a figure that we can compare against the $130m offer and then we'll all get a chance to vote on which option we prefer.

We don't know yet what the development option will be but we can do some quick calculations based on the size of the resource and the current market price of lithium. Our resource is worth billions of dollars, not hundreds of millions.

We know that ESS management are more than capable of undertaking a DSO operation. They are one of the few management teams who have actually done it before. We know we can sell the DSO because our head of marketing was the guy responsible for negotiating DSO sales for CXO.

If someone wants to take our resource from us now they're going to have to do a LOT better than the current offer.

Anyone who needs more compelling evidence as to where this is heading only needs to look at the broker data for last week. We saw Barrenjoey, Macquarie, Credit Suisse, Goldman Sachs, Morgan Stanley, Citigroup and JP Morgan all take up substantial positions at 48-49c per share. These guys know what is happening and they aren't around to make 1-2c profit.