Very nice find re Dale Elphinstone I4. I was unaware of his coal...

Very nice find re Dale Elphinstone I4. I was unaware of his coal seam gas credentials until I read this bit:

'The heightened interest in coal-seam gas is already helping some canny investors build some impressive fortunes, as Alan Kohler revealed yesterday with fund manager Phil Mathews (Secret Billionaire, June 5). But it's the true believers – the executives behind the coal seam gas companies – who are really rejoicing.

Queensland Gas has had a big few years since launching an unsuccessful bid for Sydney Gas in 2006. In March 2007, it struck a 20-year gas supply deal with AGL, which included AGL acquiring a stake in QGC as part of the deal. In February, it formed an $870 million alliance with BG Group under which it sold BG a 20 per cent interest in its Walloons gas acreage and took a 10 per cent stake in QGC. The two companies are also looking at building an $8 billion coal-seam gas fed export LNG plant at Gladstone in Queensland. Queensland Gas’ share price has more than doubled in the past 12 months.

The biggest winner out of Queensland Gas’ rise is Dale Elphinstone, a Tasmanian who made his fortune from mining machinery in the Tasmanian town of Burnie. He joined the Rich 200 this year with a fortune of $565 million, thanks in no small part to his Queensland Gas stake, which is worth about $279 million.

Elphinstone has a fabulous rags-to-riches story. He started out as apprentice mechanic at Tasmanian company William Adams in 1974, but eventually formed his own company. He bought out William Adams in 1987 and eight years later formed a joint venture with US heavy equipment company Caterpillar. He eventually started investing in the stock market, buying into Queensland Gas (and joining its board) in 2002, when the stock languished around 25c. It is now trading around $5.00.'

Elphinstone, as a director and key funder of MNM's pre-JVA partner exergen, would be very well aware of the potential value of MT M as a CSG project.

A possible tie in between exergen and MNM would create an instant mid tier coal play with quality brown and black coal assets strung out between Cairns and Geelong.

That's a lot of potential business for the east coast caterpillar dealer, and a lot more potential coal profit for this semi-billionaire diesel mechanic.

I'm still wondering why elphinstone's 2 key private companies are named as key clients of JV and mergers specialist lawyers Komersaroff Legal, who also just happen to be exergen's lawyers.

Who are exergen, elphinstone pty ltd, and william adams ltd (dale elphinstone's private companies) looking to either JV or merge with? Obviously someone, or they would not be spending enough with Andrew Komesaroff to be named as major clients.

DYOR