I wouldn't be too excited about DSO. Firstly, there has to be a converter, with suitable transport connections and spare capacity. I am not sure that this exists. There cannot have been a lot of spare capacity in the beginning, and we have seen a couple of deals so far. Any spare capacity may have been absorbed in the recent deals and there is no more. Then, there is the very poor return compared to conversion on site. I still think that the sale deal is to put pressure on potential off take partners to pony up with sufficient capital or guarantees to get the show on the road.
ESS Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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