Why do you feel the incessant need to keep asking the same Q over and over???
It has now been answered by myself, HM and EB and I'm sure others and yet you continue to keep asking it.
There is a pre-JV signed between MNM and Exergen.
Both companies are sharing the costs of drilling at BM.
Both companies need each other (I'm not saying one more favourably than the other) - Exergen need to see their tech into commercialisation and MNM want to see their BC utilised.
If not, why bother going to the expense of drilling BM?? Would be pointless for both companies.
State Govt needs cash, needs to create jobs and is the only state not earning royalties from exporting coal. There is enough media attention now to say that State Government want this to happen eg S7 coal allocations, etc.
BM is the only place in Victoria where a BCE export market can be up and running to any reasonable degree in the short term ie 2-4 yrs. Why else is there a $4 billion upgrade to the rail netowrk that just happens to end at BM?
OK - in simplistic terms:
BM has an existing mine. BM has "upgraded" rail infrastructure (both East and West) to Geelong. BM Mayor wants jobs, better transport and dollars coming into his community. BM has 2 billion tonnes of BC under over pasturised, arid and eroded land. This 2 billion tonnes of BC is held by MNM - 100%. MNM has a pre-JV with Exergen. Exergen has a BCE tech called CHTD. CHTD uses gravity and pressure, not waste heat, to convert BC to BCE - so it doesn't need to be in LV. Exergen have an offtake agreement with TATA (also a SH of Exergen). State Govt needs cash and jobs and has 400 billion tonnes of BC sitting in the ground earning them nothing.
Join the dots.
LV will happen, but BM will be first cab (rail carriage) off the rank.
K
MNM Price at posting:
9.9¢ Sentiment: LT Buy Disclosure: Held
