The US Inflation Reduction Act and the recent statement by President Biden that he will ask Congress to include Australia as equivalent to US for purposes of US Government loan money for producing and processing critical metals provides a wonderful opportunity for ESS to get a favorable deal for offtake and funding to get an operation underway at Pioneer Dome. No doubt, the Board is well aware of all this and is working on it now. It may take a little time, but it is a wonderful opportunity. I do not know of any other resource that has a mining lease, with minimal development required and is ready to go in the lithium sector, which is currently red hot and very much one of the critical metals. Most of the current deposits are already committed and quite a few have connections to China which will negate any possibility of US Government money for development.
ESS Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
