They may well be in discussions with others. But those...

They may well be in discussions with others. But those discussions may take many different forms.

I've invested in small caps for long enough to know that 'discussions with others' is often used to hide the fact that nothing noteworthy is happening.

I see it all the time in quarterlies.

So I guess that might describe receiving a few emails from people in the industry. Every company with even a hint of lithium receives those.

Or it might describe genuine bilateral discussions with credible potential partners pitching attractive terms that are likely to lead to unconditional binding offers. Given the timeframes and processes outlined by the company earlier, this does not seem likely.

It doesn't seem like anyone is likely doing their due diligence with ESS, else they would likely be telling us about it.

So maybe 'discussions with others' is something; maybe its nothing.