MrsP - it's a legitimate question, but it has been asked and...

MrsP - it's a legitimate question, but it has been asked and answered before. PS it's the CHTD demo plant that's going to be at Morwell (not DICE).

IMO it's about revenue generation first and foremost. Particularly important now for a company that's about to go public. They would want a revenue stream as soon as possible and then, the more revenue streams the better.

Fakie is right, it's about infrastructure. BM rail would only require an upgrade where LV would require an entire pipeline to port and/or new rail. Billions in cost, State govt. would have to be involved etc etc.

BM is the first scheduled revenue for Exergen, commercial construction to start in BM in 2016, two years before LV. And even if Exergen get an S7 allocation (which I think they will) it doesn't automatically mean that they'll can the BM project.

Public companies don't just focus on one revenue stream when there's more to be had. BHP doesn't just operate one mine, there are more minefields, more money to be made, so they operate a number. Don't forget that BM has a NPV of $1.4Bn. That's ~$375 million per year in net cash flow over 25 years, which is ~$9.375 Billion dollars over that period. You don't just walk about from that for no good reason. This about it like this, would Exergen shareholders be happy if the company walked away from that kind of revenue?

If the tech is proven at demo, they'll be looking to apply it wherever they can, it's how they make money. Also, don't forget that Mantle has a Technology Licence Deed for the entire economic life of the deposit, regardless of whether the JVA terminates or not.

Just IMO.