exergen, page-11

'The 12month old MOU is for the development of BM, no mention of LV.'

exergen's extensive pilot testing of the BM coal from the Maddingley mine to establish suitability to the CHTD process, and the use of this product in conjunction with the CSIRO DICE project tells us that exergen's only go forward with Victorian coal is with MNM, and at BM.

They have been trying for years to get an allocation of coal in the LV, without success. Their continued lobbying for an LV allocation from the preserved areas is not exclusive of the BM project.

Unless they construct a demo scale plant, talk of the LV is specious.

BM is the obvious location for the demo plant because of its easy proximity to Melbourne. Exergen are based in Melbourne. The exergen plan is to fly potential brown coal upgrade customers into Melbourne, drive them to BM and back in a day, and flog them a CHTD plant in the process.

If you can identify any alternate source of the 2 billion tonnes+ of Vic coal exergen need to justify spending $50 million on a demo plant, or $500 million on the 12m/tpa plant, please post full details here.

Saying they can just go out and buy it is a hopeless argument. Under the proposed JV they get 50% of MNM's coal at no cost other than to construct the plant - which they will have to do anyway if they start scouting for untested dirt elsewhere. And it will take them 3 years to get to the point BM is now.

this stock continues to attract hordes of clueless tourists whose idea of research is to read the posts of other like minded trolls, which is a hugely bullish sign.