Is it a reasonable assumption that the likes of MIN and IGO...

Is it a reasonable assumption that the likes of MIN and IGO would be looking at ESS as a feedstock play for their existing processing operations, as opposed to actually developing a processing operation at the Dome site? Assume they are also happy remove some competition by eliminating a near/medium term producer - obviously the less competitors negotiating with the battery/EV producers the better.

Does anyone have a detailed understanding of where the likes of IGO and MIN are at with feedstock for their existing operations, is that the driver?

How many alternatives do they have of a similar size, stage of development?

Red Dirt (RDT) seems like a comparable, but it's projects are not in as good a location as feedstock, they also don't have anywhere near as big a resource as Indicated, yet they have a market cap at $200m and are not subject to any takeover/corporate activity that i'm aware of. I'm not aware of others at the similar size and stage.

Initial offer on ESS is $136m! Surely should not be selling below the equivalent of RDT which would be approx $0.74 and I would suggest.

A lot I think will depend on how the market and specifically lithium markets perform in these few months. If we see some positive momentum, would have to assume some competition will arrive.