80 cents by december...., page-6

Actually the calorific value is determined by weight. As a significant part of the weight in brown coal is water, which is removed in the process along with sulfur and unwanted salts, the calorific value achieved is much higher and much cleaner than brown coal.

The article below is from the INTERNATIONAL COAL REPORT AUGUST 30, 2010. Spot and term contacts for coal of similar quality to what Exergen expects to be exporting were going for over $80/mt in August 2010 when at the same time the coal price you are referring to, $130/mt, was $78/mt

"Kospo awards spot and term contracts in $83-85/mt range

Korea Southern Power (Kospo) has awarded a combined 1 million mt of spot and term contracts in the $83-85/mt range, according to market sources. Kospo is said to have awarded term and spot contract prices for high calorific value Australian coal at about $85/mt FOB, basis 6,080 kcal/kg NAR.

The utility awarded three-year contracts for the period September 2010 - August 2013 involving annual delivery of three panamaxes of Indonesian coal, three capesizes of Australian and two capesizes of South African coal, industry sources said. It also awarded one spot capesize of high calorific value Australian coal.

-Cecilia Quiambao, Manila with Gareth Carpenter, London INTERNATIONAL COAL REPORT AUGUST 30, 2010"

INTERNATIONAL COAL REPORT AUGUST 30, 2010

Also, this is from Exergen Director, Dr Jack Hamilton on October 15, 2009.

"Dr Hamilton, who hopes to have the plant operating in 2014 if all goes well, said the process was competitive as long as the Newcastle coal price, currently at about $US70 a tonne, stayed above $US55."

The Australian Newspaper Article