Drilling to commence next month... so results perhaps start to flow late Q3 or certainly sometime in Q4??
If exploration doesn't indicate any likelihood of resource expansion, then the PFS is a continuation of the Scoping Study and nothing much changes (noting the ridiculously low Li price in the SS).... MCap should be higher right now but the Li slump is only just ending. Point being, no resource expansion still leaves a decent little mining proposition.
BUT, IF exploration returns positive results and a high likelihood of growing the resource, then this thing takes off again, possibly big time.
So wouldn't shareholders prefer to wait now and not accept any offer until this drilling programme is complete?? Unless said offer was at least, I don't know, say 50% premium on SP??
As
@Names little said above, "A nice steady ship, onwards to the next stage, planning for DFS."
Although I've watched for quite a while, I still have plenty to learn about ESS, particularly the other projects and JVs. Had some nice luck with GL1 and a few others.... might try my luck here soon too
Good luck to us all.