Care to provide your valuation method for arriving at $1? I too...

Care to provide your valuation method for arriving at $1?


I too would like more than .50, but given the current state of development and the fact that the pioneer dome resource has been deemed to have no further exploration upside in the known orebody, I don’t see how ESS is worth a similar amount to GL1s current MC.

Apply a 40% control premium to GL1’s current MC brings them to a touch under $400m, which in my opinion is better value than ESS at $136m due to having:
A) ambitious management
B) two resources, both of which are significantly larger than the pioneer dome, for a total of 50.7MT
C) High likelihood of further resource expansion from known deposits.

I don’t hold GL1, but I’ll likely place my funds into them if ESS sells at .50. Either that or add to my LTR holding depending on which represents better value at the time.

My preference is for a bid of at least .60 in which case I will use this as an opportunity to take some money off the table as this represents a further 50% return on my initial investment.