I think we're all a bit surprised as to how long the inevitable re-rate of ESS shares is taking. It's easy to dwell on the red days and ignore the green days. Worth comparing our YTD performance to some of our peers:
ESS 118% GL1 114% SYA 69% LTR 12% LKE 3%
And looking at our chart I think it's pretty obvious that we're currently at the bottom of one of our regular oscillations. Even with no further news you'd have to expect us to be back in the mid 50's again within the next couple of weeks.
The scoping study and offtake agreement isn't far off now. It will be pretty hard to keep the lid on our share price once they are announced.
ESS Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
