11.2Mt at 1.21% Li2O given a roughly 70% recovery rate will yield at least 1,000kt of SC6.
Current spot prices are in the US$3k/tn SC6 range.
Fair value would use a US$2k/tn SC6 price to value the contained Spodumene at circa US$2b
ESS 244m SOI, 23m oppies.. give us an offer between A$3.50 and $4.00 (which implies a value of between A$800m and A$1b) and then we can talk seriously.
ESS Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held