market cap comparison esi heavily undervalued, page-6

According to WEC announcement dated 3/12/07 they cliam "The process has been shown to be cost and operationally supperior to competing technologies. WEC & ESI can't both be right!.....BHP seem to like WEC and they are currently building a commercial plant in Indonesia. The following info has been taken from WEC web site:-

White Energy has the worldwide exclusive license to a patented coal upgrading technology that has been developed and refined over several years by CSIRO, the Australian government sponsored research organization. The White Energy process has been successfully tested on various coals throughout the world including coals from Indonesia, Australia, South Africa, South America, China and the United States of America.
The White Energy process makes it possible to generate closer bonding between coal particles, in an economically viable way resulting in:
Higher energy and lower moisture content and improving coal qualities from around 4,500 kcal/kg to greater than 6,200 kcal/kg
Lower transportation costs due to a significant reduction in moisture content
Significantly lower risk of spontaneous combustion
Significant green house gas emission benefits resulting in the potential availability of carbon credits
White’s technology advantage
Fortunately the White Energy process has a limited field of established competitors. Importantly, the White Energy process has both a significant capital and operating cost advantage over these competitors. Other technologies have failed on many technical aspects mainly as a result of failure to prevent spontaneous combustion, insufficient gain in energy content and unacceptable environment impacts. Your Directors are of the view that these obstacles have been addressed and overcome by the White Energy process developed by the CSIRO.
Partnerships in place to commercialization
The Company is committed to commercializing the White Energy process. In this regard it has signed Joint Ventures with leading companies in the coal sector to produce 13 million tonnes of upgraded coal over the next few years.

Are these guys talking about BROWN COAL or poor quality black coal or both?