From what I can gather from history and geology there is a very good chance of CSM. Looking at MEL they are drilling at a similar sized deposit topographically.
They are drilling mainly between Casino and Lismore, just south from the home of the NSW hippy, Nimbin. The 2km exclusion will rule out a lot of their tenement IMO. They did have an $80m MC before some bad publicity, now sitting at $50m.
The Mt Mulligan has no land use conflicts in the same regard, there are no farms or homes in the vicinity, there are sites of importance to the land custodians, and they will be protected as per the ILUA.
We have an agreement with the landowners. MEL and others will be inevitably affected by the new buffer regulations.
Very interesting interview with CEO of AGL Michael Fraser about the Coal Seam Gas decision.
http://www.2gb.com/audioplayer/7400
MNM Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
