Good Work w27 "2. ESS believe that they can obtain the necessary capital to build the required processing plant, without recourse to traditional lenders."
Over at CXO its now Standard Operating Procedure NOT to issue offtakes without significant upfront $ for Development.
Financial Risk it appears to have shifted from Developers (loan via Banks) to Desperate Offtakers that have to offer capital for Development to secure the offtake.
So with this in mind & Risk/Reward - look for a huge Re-rate on future announcements when we have the Offtakers stump up the majority of funds for us to Develop. Its not a question of If....but when ....which could be very very soon.
Other news today over at CXO
"First DSO spodumene shipment via tenderPreparations are underway for Core’s first shipment of Direct Ship Ore spodumenefrom the Finniss Project before year end 2022. Due to the high level of interest inFinniss ore, the shipment will be sold via a tender process using a digital exchangePlatform."
So demand is so high that they will Auction off the DSO Spod ore to the highest bidder.No mention of what the grade is – have to assume it’s the low grade, Will have to keep tabs on the price and grade here.
Wonder is the DSO option is still being considered for ESS??
I'm Guessing Prudent to keep all options open.
ESS Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
