mnm sp has gone up from 3.5c to 25c in a month. some punters are prediciting a $2.50 sp for mnm if the exergen deal turns them into a coal producer (MNM would own 50% of the JV).
the bacchus marsh brown coal is probably better quality than the latrobe valley brown coal. mnm has a binding mou with exergen. the exergen consortium includes India's tata group (revenue of $67 billion last year) and Japan's itochu ($34 billion). exergen has offtake deals for the coal from BM with both. exergen also includes specialist coal plant builders thiess and sedgman. they would not be there unless a plant was going to get built.
the exergen dewatering process is proven in initial pilot testing. a bulk sample test using MNM's Bacchus Marsh brown coal is underway, coinciding with the massive share price gain. (which makes you think that the tests are probably working pretty well.)
the question is, if MNM/exergen are just about to get to the holy grail of brown coal commercialisation (as the market clearly now believes) where will that leave ESI?
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