Speculation, theorizing of an offer without the appearance of another ASX suitor in a trading halt leads to conjecture of an overseas bidder having a “feeler.” Of course Twiggy could be using one of his unlisted entities to entice us? (more conjecture)
ESS has 244Mshares & 23M Options on issue for a combined Market Cap of $267.3M at last closing price of $0.685c. Its Lithium Resource of 11.2M at 1.21% Li2O had been flying under the radar of some until a spike in the S.P. occurred in more recent times.
Due to the factESS has some work to do to prove up its reserves of Lithium and other metals any proposal to take control of the Company at this point in time is very speculative imo. A suitor most likely will put in a low ball offer circa$1.285c valuing ESS at 343.5M then see what the company (DSS) does from there.
A possible play would be rejection of such aforesaid offer as DSS puts out an announcement of the potential upside in the company’s value due to its excellent prospects, in particular Lithium.
The S.P. plateaus around the offer price for a short time before drifting back unless of coarse another bidder emerges. The suitor asks for due diligence and after a few weeks comes back with a counter offer of $1.54 which equates to circa $412M.
The way I am playing this is to wait for the dip in the S.P. after the 1st offer then top up big time. Those who think this will be a quick play need to study WSA for an example of how long winded these things can be.
Light musings leading into the LWE. Could be way off the mark but who cares as we are on a winner here. DYOR
