'MNM are in the same tech space but ESI are now in a position to sign deals - whilst MNM are not.'
didn't esi 'sign a deal' with Tincom in June 2010 in regard to project funding? wasn't part of that deal supposed to see ESI receive $1.5 million from Tincom? 10 months on, any sign of the cash? and just remind me, what was the date of the last ESI ann that even mentioned tincom as a potential investor?
In terms of the essential tools required to advance a revolutionary brown coal commercialisation project in Victoria MNM now has:
1. access to 2 billion tonnes (30 years+ worth) of brown coal at BM, and another 10 billion tonnes+ pegged in the LV for phase 2 of their grand agenda;
2. a JV with a consortium of global coal giants (Tata, Itochu, Sedgman, Thiess - the owners of exergen). The next phase of the JV will be JORC confirmation of EL5294. then the mine development JVA's. these 4 have a combined market valuation of $150 billion+, and 400 000 employees. funding is simply not an issue for exergen. the only issue is project viability, and that is right on track;
3. motivated directors with huge skin in the MNM game by their personal shareholdings;
4. credibility.
ESI have:
1. a brown coal treatment concept they want to licence to others, but at this stage, no one seems to want to buy;
yet the markets caps of the two stocks are pretty similar?
MNM also has potentially a billion tonnes of black coal (Mt Mulligan and Texas), potentially a million ounces of gold (Haunted stream, Granite Castle), and highly prospective phosphate and silver holdings.
MNM should be trading at 10x ESI's MC.
MNM Price at posting:
15.8¢ Sentiment: Buy Disclosure: Held