"co-incidences"..?, page-181

DC

"I'm quite certain that you're well aware of which gallantly evaded question i refer to but in the unlikely event…..TATA will not accept sulphur levels above 0.6% and has your pet stock given any guidance as to how they will reconcile this?"

DC as you would be fully aware - Tata as part of the Exergen consortia has recently signed off on the 50:50 JV with MNM for the development of the BM resource.

Your statement directly contradicts the recent actions of Tata. Did you make up that statement?

It seems that you quoted the worst S levels from one hole at BM...of course, to be fair we should look at the S levels as an aggregate or even better, those levels closer to surface and closer to the Maddingley mine.

We also know that the CHTD slurry process removes up to 40% S, then there is blending, thermal plant flue techs, etc.

Have a read of the following. You can see Tata have (and are) taking significant steps in advancing their power plant technologies:

http://www.tatapower.com/sustainability/environmental.aspx

As has been recognised, there will be a discount applied to the coal for S higher than specified. This could probably be close to the amount Coldry would receive from royalties by owning the patents and not the plant nor the coal. So, all in all, not much at all when compared to the profit margin that would be achieved on the BC - which MNM owns billions of tonnes of and ESI do not (have much of at this stage).

Hope that answers your Q.

Cheers K