mnm v esi, page-4

'Comparing LV coal to BM coal is like comparing a Ferrari to a Mazda.'

It sounds like ESI shareholders think the Calleja coal at Maddingley is second rate?

Just as well they have a company (exergen) owned by a consortium of multinationals with revenues exceeding $US100 billion per annum to fall back on if ESI decide the Latrobe Valley is a much better bet.

MNM will no doubt be delighted to process Calleja's massive reserves of high grade brown coal at BM, and deliver the financial return to them which has long been promised by ESI, but really, lets be honest, seems further away than ever.

While on Calleja (or JBD Industrial Park, their sharetrading entity in ESI) why is it, you wonder, that they are continuing to reduce their holding in ESI? Down to 6% according to the last top 40 ann? It was 15% in 2009 wasn't it?

Hmmmmm... I wonder if they will appear on MNM's top 20 list sometime soon.