Unfortunately for us Navygulf, the govt's Bc Pilbara with ALDP and S7, has probably delayed the bm project by a year or two. Exergen probably has a couple of original shareholders who probably don't have a lot of cash and therefore don't want to dilute their holders by bringing in more stakeholders. So they will wait around for the $30 million or so in grant for their CDP and put their bid in for an S7 allocation, both of these they might have been at risk of missing out on if they were two years further ahead in the project pipeline.
Another issue for Exergen and Mantle is that if they moved first on BM before the BC Pilbara then they would just be sticking their necks out to get chopped off by the anti-coal mob. Better go in a group and have the full support of state and federal backing.
So we have had to wait a substantially longer time than would otherwise have been , if not for the BC Pilbara, to see some serious progress with BM or Exergen's CHTD CDP. Hence the disinterest from buyers and the sp decline. I was counting on the Coal Tech conference to start some noise in the media on The BC Pilbara in general and hopefully Exergen, CHTD and DICE in particular. The fact that Coal Tech was cancelled and no one here seems to know why is disconcerting but there are lots of twists and turns in this saga. No direct express train to development and export in this story. So I wait evermore patient and watchout for another small drop in sp to accumulate more.
MNM Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
