"The board are clearly not skilled enough to develop this...

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cosmoman

1,451 Posts.

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05/06/23

19:27

Post #: 68140993
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Originally posted by Bluegoose ↑

Obeikan - a large Saudi company has just signed a deal to buy Spodumene from the Wolfsberg lithium mine in Austria (not dissimilar size and grade to Pioneer Dome) for the life of mine with a floor price of US$3,000/MT and a ceiling price of US$7,000/MT.

This is why I believe ESS and our "independent" valuer were having a bit of a lend with their US$1,500/MT long term spodumene pricing. No doubt the independent valuer was guided on how to come up with some low NPV numbers to justify the outrageous TLEA sham.

You will start to see large companies and banks value projects on at least US$3,000/MT minimum in DFS and BFS assumptions.

Time for Tim and the board to stop talking our asset down and start talking it up and working to realise some better value for shareholders. And no, that does mean some pi$$weak offtake with a Chinese company. It means a takeover to the highest bidder - and to force MIN's hand and make them pay up for the asset if they want it!!.

The board are clearly not skilled enough to develop this resource properly - so the best option is to sell it for maximum value and they and we can move on and we never have to own a company with this poor management ever again.

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"The board are clearly not skilled enough to develop this resource properly - so the best option is to sell it for maximum value and they and we can move on and we never have to own a company with this poor management ever again."

precisely! You said something true there. and I'm sticking with it, our ESS is worth at least $1/share. The Saudis are not stupid for paying such prices and our board wanted to sell our lithium for a paltry $1500. That's just ridiculous.

ESS Price at posting: 45.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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