bit of reading...between the lines, page-4

harry, is this your first post on any stock other than ESI?

nice of you to make time to share your research with us.

can you help me with a query, while you're here - is my maths correct that with that extra 45 million ESI heads/ops that were printed today there are now about three billion one hundred and fifty million ESI heads/ops on issue?

that sounds like a lot of ESI scrip floating around to me harry.

when you compare it to, say, MNM, which has less than 300 million heads and ops on issue.

by my calculations this means that ESI has a fully diluted MC of nearly three times as much as MNM.

Let's weigh that up:

Both ESI and MNM are brown coal hopefuls.

But MNM has 950 sq km of Victorian brown coal tenements and ESI has 33 sq km?

MNM has just finished drilling its 369 sq km BM tenements to JORC level, which is expected to be confirmed to exceed 2 billion tonnes in July.

yet ESI's MC is three times MNM's?

and MNM also owns quality black coal projects, a 500 million tonne coal seam gas project in Qld and multi million ounce gold projects as well as all that brown coal.

but esi's total resource holding is limited to that 33 sq km of brown coal, isn't it? please correct me if that's wrong.

yet ESI's fully diluted MC is almost triple MNM's?

does that seem right to you harry?