Overall, I support the strategy embarked on by the Board. It may...

Overall, I support the strategy embarked on by the Board. It may be high risk, but given the lack of support from the market, I think that it is worth a go.I would like to try to inject a little fact and logic into this debate.1. The SS is an independent study. The directors have, I hope, absolutely no influence on the sale prices chosen to be used in the study.2. There seems to be complete interchange between Australian and US dollars, from commentators. The US dollar is worth almost 50% more than the Australian dollar and lithium sale prices are almost always quoted in US dollars, while what we are all interested in are Australian dollars.3. The share price before this deal was announced was hovering around 30 cents. 4. To raise the amount of capital to get the deposit into production would have required raising so much capital that the dilution would have produced a poor result for shareholders.5. Whatever we might think, the market had put its price on the company.6. The directors have embarked on a strategy which has a long way to go,7. We already have a share price more than 50% above that when we entered that strategy.8. As others here, have suggested, the absolute minimum acceptable price, on the basis of the SS is $1 or above.9. It is highly unlikely that the papers to be released by the target (ESS) will have an independent expert report agreeing that an offer of 50 cents is fair or reasonable.10. Under all the above circumstances, the bid will have to be increased or withdrawn.11. This is only the beginning, not the end.12. The price for spodumene concentrate adopted in the SS is irrelevant to any future bidder. They will have their own estimates of costs and income.13. At the end of the day the decision/s are in the hands of shareholders.