bm compensation agreements lodged, page-5

'RESOURCES:
Another example of innovation is Exergen Energy, who are present here tonight and represented by its Chairman, Martin Albrecht. Exergen are in the business of clean coal technology to reduce emission from brown coal-fired power stations. I understand that Tata Power has invested in your company, CONGRATULATIONS! I recently read in the Economist Magazine that India is in the process of building 70 new coal-fire powered generators. They are going to need your help.'

nice find rubes. what was the date of this speech?

exergen has been looking at Indo as well as Victoria as a potential site for its CHTD projects. it is no secret that both BM and Indo coal has been run through their Beaconsfield pilot plant.

WEC are the brown coal upgrade trailblazers in Indo. This ann from them today may make BM look a whole lot more attractive to exergen than Indo:

'09 November 2011
Announcement Details

ASX URL: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=wec#headlines

Summary
9 November 2011 – White Energy Company Limited (ASX:WEC; OTCQX:WECFY) (“White Energy”) - As shareholders are aware, PT Kaltim Supacoal (“KSC”) is an Indonesian PMA company owned 51% by White Energy and 49% by PT Bayan Resources Tbk (“Bayan”). It was formed in 2006 to construct, commission and operate a 1 million tonne per annum coal upgrading plant at Bayan’s Tabang coal mine in East Kalimantan, Indonesia.
Bayan’s management acknowledges that the Tabang run of mine coal can be upgraded from approximately 4,200 Kcals/kg GAR to approximately 6,000 Kcals/kg GAR using the BCB technology. However, they have expressed concern over material handling issues, in particular the level of dust generated which is a characteristic of all bulk materials, including sub-bituminous coals. The current plant modification work at Tabang includes installation of a more sophisticated product handling and stockpiling system. These improvements are designed to reduce multiple handling of the product by mobile machines, as this results in some degradation and dust. It is now common within the coal industry to use a small amount of surface additives to allow the fine coal particles to adhere to the lump coal surfaces. During the next phase of operations, KSC intends to trial dust suppression products on the upgraded coal as it is being conveyed to stockpile.
Bayan has advised that based on the current export prices of coal, they have formed the view that the cost associated with upgrading the Tabang run of mine coal may no longer deliver acceptable economic returns for KSC. The key factor in arriving at this position is Bayan’s insistence that the contract price for Tabang run of mine coal must be increased to a price substantially higher than that incorporated in the original coal supply agreement entered into between the parties.
In this regard, Bayan has advised that it can generate much higher margins by selling Tabang run of mine coal directly into the export market, given that the current Indonesian government coal reference price (HBA) for 4,200 Kcal/kg GAR coal is approximately US$60/tonne FOB, which equates to approximately US$40/tonne ex-mine.
These issues go directly to the economic viability of the existing plant located at the Tabang site and the willingness of each of the shareholders to continue with their investment in KSC.
Following a request from Bayan, both shareholders will determine the appropriate steps to be taken in relation to KSC and the operation of the Tabang plant by no later than 31 December 2011.'