i am holding until share price above $2.00, page-46

some posters recently have suggested MNM is too small to fund half the costs of building a demo scale and commercial scale CHTD plants at BM.

They won't have to:

http://www.mantlemining.com/files/announcements/872791.pdf

These terms of the proposed MNM/exergen JV make that clear:

'A 50/50% Joint Venture for exploration and subsequent mine development,

Exergen constructing a 50tph demonstration drying facility,

Exergen developing an export project on its 50% of the coal deposit,

Mantle being licenced to utilise CHTD on its 50% of the coal deposit.'

The deal, in simple terms, is that MNM will assign exergen a 50% interest in our 2-2.5 billion tonnes of BM coal.

In return for a gift of 1-1.25 billion tonnes of brown coal Exergen will design and construct the CHTD plants needed to convert it to BCE for export.

Then profits get split 50/50.

The plan is to start with a 50 tph demo scale CHTD plant.

If that demo plant establishes the commercial viabilityof the BM project then the 12 million tpa BCE plant will be built. It will be designed and constructed by exergen co-owners Sedgman and Thiess - who are Australia's largest providers of coal infrastructure engineering services.

If they need equipment for the BM mine development then exergen co-owner Dale Elphinstone (who owns the Eastern Australian Caterpillar dealership) will come in handy.

If they need some working capital, then exergen co-owners Tata (revenues 10/11 $US 100 billion) and Itochu (revenues 10/11 $US35 billion) have a few dollars to offer.

And the BM JORC is only days away...

DYOR