jv signed!! , page-39

Howdy All

Momentus news and what a lot of us stal(e)warts have been expecting for a long time now! ;o)

My take on this is that MNM have negotiated a very favourable deal for the BM project.

MNM will hand over 50% of the BM deposit and retain the other 50% - say circa 1 billion tonnes of BC.

Exergen will in turn:

1) pay all the costs assocated with creating a commercial CHTD plant worth in excess of $50 million. MNM doesn't have to scratch around looking for cash to prove up the tech.

2) will pay MNM $500K for drilling expenditure at BM to date. More cash to hit the bank account shortly.

3) will assume ongoing management of the BM project once the JORC is defined - so by the end of July/early August. Less costs for MNM at BM.

This, I believe, will leave MNM management free to focus on other company making projects such as MtM, GC, LV, etc. (which of course with a small staff number may not have had a lot of focus as BM has been given priority - now Exergen will take on the management of this project).

Additionally, an extra $500K hitting the bank accounts will give MNM another 3+ months operating cash flow at current cash burn rates.

So, MNM will eventually have ownership to approximately 500 million tonnes of BCE at BM and the resultant revenue from export sales without the expenditure in capex and management costs to create the tech and process the BC.

What would that be worth? - even 20c in the ground = $100 million MC or 40c per share for BM project alone.

Not bad for a speccie company run on a shoe string budget.

Excellent work IK and team - no wonder we had to wait longer than anticipated to get this JVA signed, sealed and delivered.

Cheers K