Thanks mate, I will watch from here and see how it unfolds....

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benkenobi

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11/01/23

21:13

Post #: 65645398
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Originally posted by WhatsTheTip: ↑

@benkenobi, the intention does not appear to be to stop all activities.

Page 30 of the notice (35/94) puts a limit on new exploration commitments of $2.0m and also a capital expenditure commitment (excluding exploration of $0.5m). In the 12 months to June 2022, ESS spent $2.757m on exploration and evaluation. In the Sept 2022 quarter this increased to $2.089m. A $2.0m cap on new commitments is therefore not unduly restrictive as it restricts new commitments over the next 4-6 months to less than half what was spend in half of the last financial year. I'd have expected some exploration commitments to have been made following the 16 November 2022 exploration update meaning something above $2m could be spend on exploration across Jan-June 2023 while still being compliant.

If TLEA were intending to put a stop on all new activities, this new exploration commitment threshold would have been a fraction of what it is. That noted, given the time assay's take to get through the lab's it would be tight for any January chips/drilling to have Assay's back by the currently scheduled voting date. Any Feb/Mar chips/drilling would have little chance of assay's but could have a x% visual spod reference.

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Thanks mate, I will watch from here and see how it unfolds. Still have it in my SMSF, good luck to you and all the other holders here.

ESS Price at posting: 48.5¢ Sentiment: None Disclosure: Not Held
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Thanks mate, I will watch from here and see how it unfolds....

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