Well that was quite the ride since January 9th. TLEA has walked, MIN are MIA, and ESS management were sitting on their hands for 4 months.
Back in December they hired Robert Sills as "Marketing and Strategy" manager. What was he doing for the past 4 months? Mr Sills has DSO experience from his CXO days. Has that progressed?
It has been discussed many times ESS can't just build a spodumene concentration mine as the $300M or so required would dilute the share register. The widely accepted alternative was to DSO for 12-18 months, and use that cash flow to fund the plant. Heck, during that process there'd be a good chance of partnering with an off-take partner to contribute funding the mine.
Anyway I sold today because I'm not sure if ESS management can pull this off. So much time has passed and we are still waiting for action.
I will buy again if ESS management show signs of life and actually progress a DSO operation.
ESS Price at posting:
46.0¢ Sentiment: Hold Disclosure: Not Held
