This is someone that wants a minimum 51%, or most likely 100% of the company and it's resource.
I think $500M would be the absolute minimum this resource is worth, and one would assume ESS may have become a $1 Billion MC company in due course.
But I'm guessing no one will offer 3X the current SP in their first bid, but certainly it will be over $1 if it has any credibility as a possible starting point for negotiations.
I think my number is $2. Whilst it probably undervalues the company in the medium term, it's a decent premium to the current SP and hard not to take. But I am likely dreaming and I don't see anyone offering that sort of premium just yet??.
$500M is chicken feed for some of the big players out there.
ESS Price at posting:
68.5¢ Sentiment: Hold Disclosure: Held
