Lautrec,I will ignore some of your childish baiting and try and...

Lautrec,
I will ignore some of your childish baiting and try and expand on my thoughts for the betterment of this forum. (Yes, thats right Laurtrec, its a forum. Designed to facilitate open and robust discussion about companies listed on the ASX)

I havent really looked into whether it is a threat or not as I am not overly focused on ESI these days and only asked the question after someone asked me about MNM.

On the face of it, it appears to be a threat but the degree of the threat is unknown to me without further enquiry.
Any situation where the key project partners (ie the pilot plant being the project and the Callejas being the partners) are in negotiation to sell the rights to the projects supply to a direct competitor (exergen being the 50/50 JV partner to MNM for the Bacchus Marsh project)must be viewed as a likely threat.

To do otherwise is akin to putting your head in the sand (or coal).

Have ESI negotiated enduring rights to access coal supply for the pilot plant?
Did the Callejas disclose this conflict of interest to ESI?
Do ESI own the capital improvements and the equipment of the pilot plant housed on the Calleja's property?

Amongst others....

Its okay Lautrec to sometimes say you dont know the answer to things without trying to discredit the messenger so as to avoid the message.

Good luck to you all.