I too think 50c is light. Would be much happier closer to 70c. I...

I too think 50c is light. Would be much happier closer to 70c.

I would have expected MinRes (MIN) to have a crack, given Mt Marion. The timing maybe slightly off given MIN is involved in other battles

Currently MIN is bidding into 2 gas projects, both are escalating in price as other bidders have emerged. NWE partner in lease in takeover, may get an extra bidder and force MIN bid higher, most likely Gina. MIN is also bidding for WGO against STX and Gina for their portion of a read hot gas area. I wonder if Chris Ellison (MIN CEO) can handle 3 potential takeovers at the same time. That will be a stretch. Opportunities like ESS dont come along very often, at a point of development that is very enticing, and the prospectivity of the land for Lithium/Cs is excellent.

Currently the market is slight below IGO/Tianqi bid, probably because of slight risk from FIRB decision. Majority stake for IGO should mean no issue, and size of current deposit, but lithium is a critical metal.

I do understand the board recommending the offer, to bring out all bidders. "no shop" requirement, as this is anti competitive and lacks transparency and efficiency of the market. ESS has been advertising itself for awhile now, so may in reality make little difference.

If another bid is coming, best earlier from the second predator, to stop the flow of shares to rival early. Though waiting has been Chris Ellsion's approach to WGO, he didn;t make an announcement until forced too by accidental release of ABN number of WGO, while supplying documents for NWE bid. Chris waited about 1 month.