the more I look at MNM the more there is to like.
that exergen flyer on the RFC Ambrian site makes it look like MNM have a 50% free carry into the planned exergen 20 million tpa coal export project at Bacchus.
And that project has a $1.4 billion NPV?
Can that be right? How can a $13 million MC company like MNM have a 50% interest in a $1.4 billion NPV coal export project with players like Tata & Itochu and the market gives it no value?
Only if the market thinks it is all BS I guess.
But the Tata Power papers Blooming has posted here today are pretty clear - as far as Tata Power is concerned the BM project is all systems go.
If it wasn't they would be writing the value of their investment in exergen down for their internal accounts and tax reasons wouldn't they?
GLTA
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