Brown Coal is Dead?, page-8

MNM has a coal resource which is valuable, particularly to the Japanese. Few other technology companies have resources, Ignite being the other exception. However the Japanese will not invest (in my experience) in technologies which are yet to be commercially proven. Ignite will hopefully prove Cat-HTR though ALDP and Coal Energy Australia will prove pyrolysis (of Victorian brown coal), also through ALDP. I think these about-to-be-proven technologies will have an advantage over chtd as the ALDP program will prove these competing technologies.