Yes...bit of miscommunication in that press release in the SMH. I assume the writer got their marshes mixed. The article should have referred to Deans Marsh and not Bacchus Marsh.
As I have mentioned before, Deans Marsh was not worth the battle, so it made commercial sense for MNM to move away and concentrate on Bacchus Marsh. Lose the battle, win the war!
Worrying though is Deb Porter from MEG showing relief from an unsubstantiated article in the paper, sending a media release and yet not taking the time to get the facts from MNM. I'd be worried if a group representing my issues and concerns went off half cocked like that...doesn't show a lot of credibility in my opinion.
Kate makes the comment that they were aware that coal was under their land when they purchased it 22 years ago, but were of the belief that it was too deep to be mined with technology at the time.
Technology advances and times change. Now there is the very potential for that same coal to be worthwhile digging up and converting to BCE for the future propserity of Vic.
To now jump up and down and refute that there should be no new coal mine because she has planted 1000 trees, has a vege patch and trains harness race horses whilst always knowing that the coal was there is a bit like saying "I bet $100 on my harness race horse and it lost".
I'd even go so far as to say that the land she originally bought (being 284 acres 5 km's from the main road with an operating brown coal mine close by) would have already been (discounted) priced to sell with that consideration included ie. potential brown coal mining in the future. I wonder would she be willing to tell us all her buy price for that land and then compare it's value with similar sized properties without a brown coal mine close by?
I recall buying a property that had a proposed freeway running through the back of it. The land had been zoned as such and was currently playing fields, etc. It was pointed out to me that one day it would be built to provide growth and infrastructure to the area, but not in my life time. I bought with this in mind and took the risk. If it had eventuated, there would be no point jumping up and down as it has already been quarantined and in the public domain, even though it would cut through prime "sporting" land. It was my choice and mine alone - I could have always bought somewhere else - just like Kate could have done.
Additionally, BM coal has been quarantined for years for the purpose of one day being dug up and used for the future prosperity of the state. Considering technology advances, that day will be a lot sooner then it looked 22 years ago.
Considering the only land owners voice we seem to hear over and again is Kate Tubb's, I just wonder how many other land owners in the area have and/or are working with MNM in negotiating agreements, rather than not. Methinks we know the answer to that.
Cheers K
MNM Price at posting:
5.7¢ Sentiment: LT Buy Disclosure: Held
