Ann: Latrobe Valley Coal Project Applications , page-17

"The Victorian Government is close to deciding if it will grant access to 13 billion tonnes of unallocated brown coal reserves to a company hoping to start exports to India."

http://www.abc.net.au/news/video/2009/10/23/2722896.htm

Highlights from this ABC TV report from 2009 include:

* the Latrobe Valley contains more energy in the form of encased brown coal than the North West Shelf has in natural gas

* 29 000 jobs are currently at risk in the Latrobe Valley region due to changing emission laws. The Victorian Chamber of Commerce supports the transformation of the employment profile of the area by the use of new technology on the brown coal reserves

* there is enough brown coal in the LV to support the present rate of mining for 500 years

* coal exports are Australia's largest export earner. Qld and NSW are the main beneficiaries. Victorians are being denied a potentially huge revenue stream while the brown coal reserves remain untapped

* footage of the patented exergen brown coal dewatering process in operation

Then consider the facts in the Stateline report with the following key events that have happened since:

* MNM's extraordinarily favourable JV terms with Exergen (ie, Exergen's owners - Tata, Itochu, Sedgman, Thiess) for the development of a treated brown coal export facility in Victoria

* MNM's control of approx 2 billion tonnes of BM brown coal

* the quickly progressing discussions with Calleja about using their Maddingley BM coal in the exergen process

* the imminent (as in maybe next week) bulk sample test results of the BM brown coal

* the fact that MNM are the applicant for the huge brown coal deposit in the LV (13 billion tonnes). Vertigo is 100% right, this is obviously the brown coal deposit referred to in the Stateline Report from 2009.

All of this is proof of MNM's key role in the development of a process that makes brown coal suitable for export to India (and China) that is being funded and driven by the Tata Group.

Tata Group employ 395 000 people in businesses in 85 Countries. They have been one of India's leading companies for 158 years. They had revenues of US$67 billion in 09/10. They are committed to the development of brown coal as an environmentally acceptable source of power generation for India for generations to come - see the Tata Power website.

And MNM, market cap $35 million, is at the heart of their agenda. The financial projections possible on this project are hard to absorb, but they are real.

Once the market absorbs these numbers the upside potential of the MNM SP will become a very interesting question.

DYOR.