not setback but only round one., page-20

I was surprised that Exergen was not included in the final 3 but not shocked, there were some big names behind the finalists if reports are to be believed. BC is heating up and MNM is in the thick of it.

Some points to note:

-ESI cited a main reason for their failed bid was their in ability to contribute to the rail and port infrastructure. Exergen may have not been made a finalist as they have a slurry pipeline link as their preferred option. If this is the case then a small $30m co-investment is a fraction of the overall spend on a rail link.

-MNMs current "discussions" could be with Exergen, if this were the case would make MNM's negotiations easier. Also with the LV off as a requirement for a demo, 50/50 BM is perhaps being considered a stronger option?

-MNMs current "discussions" could be an ALDP finalist looking to sure up an already JORC drilled area in the LV.

Interesting times!!