I am also a shareholder of ESS but must say my level of...

I am also a shareholder of ESS but must say my level of conviction is considerably less than here. Hence, ESS is my smallest lithium position in my portfolio.

Beyond the excellent points raised by WhatsTheTip, a major drawcard of GT1 are management & the partnerships. I have lost count the number of times I’ve seen aspiring junior companies squander the opportunity of their assets.
Lack of experience is a common theme, which means diminished ability to unlock the necessary doors. High calibre management is paramount.

In the case of GT1 management?

John Young – Co-Founder of Pilbara Minerals

Cameron Henry – MD Founder of Primero (Premium provider of lithium processing plants)

Pat Murphy – MD AMCI (These guys will bring the $$$)

Primero & AMCI are both cornerstone investors too. Perfect synergy of experience that is complementary.

Another key aspect here is the ESG prospects & the end product cycle.

A typical Aussie company will use fossil fuel power to mine the lithium. Then off to port to be shipped to China to be converted. Considerable carbon footprint & cost incurred.
In the case of GT1? They have close proximity to hydro power. No shipping involved. The US does not have any converters to achieve concentrate (I think?) but Thunder Bay, which is on their doorstep, will almost certainly have one imo. I’m sure Cameron Henry can assist in this regard

The exploration target for all three assets, which you take with a pinch of salt,is currently in the region of 50-60Mt. I’m highly confident on the tonnage & grades, which have produced some stellar results to date. North Aubry at Seymour came in at 40m @ 2.4%! They also recently increased their land tenements coverage by about a factor of 4. Targeted, driven and aggressive.

They are fully funded for their drill programmes & studies. Talking of money,pre-ipo they raised a decent amount at $24m. They were offered $150m.

So going back to ESS? I like the outfit but their 11Mt resource upgrade happened about 1.5yrs ago now. Progress has been far too slow. Generally, I’m also not a fan of multi-commodity companies. Focus on one & drive the value realisation. ESS have been fluffing around with gold, which I have zero interest in.
I obviously believe in the company, since I’m a shareholder there but compared to my main two lithium plays, GT1/GL1, my level conviction is significant less.