CXO MK CAP = $1.35B. RESERVE = 7.4MT @ 1.3% Li20, 14.72@ 1.3%...

CXO MK CAP = $1.35B. RESERVE = 7.4MT @ 1.3% Li20, 14.72@ 1.3% Resource ~$157 mil CASH
ESS MK CAP = $124M. Resource = 11.2MT @ 1.21% Li20


To get a more realistic value of what our SP may be when we have equivalent MC to CXO we will have to consider a CR to raise funds as per CXO's
~150Mil cash.

Lets assume our SP is $1 when we raise (75mil CR +75Mil Bank loan)- so usual discount, the CR shares @ 85c
So that's an extra 88 million shares plus the existing 243mil Shares on Issue ~331mil (not including options)

331mil Shares with MC 1.35B equates to around a SP of $4.07

- you can play around with the input numbers any which way you choose - the fact is ESS will provide substantial gains to patient shareholders.

It's managements Job to to minimize Shareholders dilution when the time to make these deals come and in their best interest to do so as they all have skin in the game.

Good luck all, stay patient and keep your eyes on the prize.