There are a number of brown coal de-watering technologies out there from Canada and Germany to name but 2. Coldry would be of no use to MNM as it relies on heat from a power station.
Exergen has an off-take agreement to supply one of their shareholders - Tata of India - with dewatered brown coal, this starts in 2014.
The LV coal will not really work in this regard as it is not exactly near a port with infratructure.
BM is close to the port of Geelong and it is with regard to the Indian export agreement already signed between Exergen and Tata that the development of BM will be based on.
I don't see LV being able to fill any of the Indian order by 2014 ... do you?
Anyway Exergen's LV allocation is liekly to be complimetary to MNM's own ground so I do not see BM as a competitor for LV.
LV and BM are 2 separate prospects. I see BM coming on stream first to keep the Indians happy followed by LV once the allocation process is complete.
I am suprised you still hold as per your sentiment if you believe the entire thing is contingent of MNM being totally subservient to Exergen.
To my mind MNM is more important to Exergen right now in 2012 than the other way round.
That will in no doubt change once LV comes on stream but then LV will be good for MNM as well.
Be happy
EB
MNM Price at posting:
9.9¢ Sentiment: ST Buy Disclosure: Held
