General Discussion, page-1485

Thanks WTT,

I saw that DSO point being raised on the Oct Webinar. Mgmt didn't seem to thrilled with it - concentrate is their main game - so I guess an integrated mine/refinery isn't part of the plan either. Got to say you make a strong argument for DSO as that level of EBITDA brings forward all options. Looks to me like "Give a little - get a lot" - tap into the boom quickly. I'm in the stronger for longer price camp so if as you say giving up 10% of the present resource that's a fair trade,

Like that closing 2nd last paragraph. Sounds like a hold for the license but surely ESS would make a DSO mgmt decision prior to license issued - scoping study ought to at least present it as an option if its doable on the resource (which it sounds like it is).

So your view is that DSO holds the key for ESS to take advantage of present supply shortage - take the low hanging cash flow from DSO now to create the best development options for the future. Sounds good (but why hasn't mgmt promoted that option?)

Thanks for the input WTT.
Regards.