Update from my valuation comparison to CXO in August...

Update from my valuation comparison to CXO in August 2021.
Figures now JAN 2022.
We haven't moved.
YET.

CXO MK CAP = $1B. Resource = 14.7MT @ 1.3% Li20
ESS MK CAP = $49M. Resource = 11.2MT @ 1.21% Li20 (lots of room to grow that)

Like For Like Comparison To Get To CXO's Value
= 2040% upside for ESS ( was 1134%)
or $4.38 PER SHARE ( was $2.71.)

ESS is a JORC'd resource, nothing pie in the sky.
They also have a lot of exploration upside across their tenure.
Conservatively 20Mt looks easily achievable