pilot plant trial a success!!!, page-81

'MNM are in the same tech space but ESI are now in a position to sign deals - whilst MNM are not.'

didn't esi 'sign a deal' with Tincom in June 2010 in regard to project funding? wasn't part of that deal supposed to see ESI receive $1.5 million from Tincom? 10 months on, any sign of the cash? and just remind me, what was the date of the last ESI ann that even mentioned tincom as a potential investor?

In terms of the essential tools required to advance a revolutionary brown coal commercialisation project in Victoria MNM now has:

1. access to 2 billion tonnes (30 years+ worth) of brown coal at BM, and another 10 billion tonnes+ pegged in the LV for phase 2 of their grand agenda;

2. a JV with a consortium of global coal giants (Tata, Itochu, Sedgman, Thiess - the owners of exergen). The next phase of the JV will be JORC confirmation of EL5294. then the mine development JVA's. these 4 have a combined market valuation of $150 billion+, and 400 000 employees. funding is simply not an issue for exergen. the only issue is project viability, and that is right on track;

3. motivated directors with huge skin in the MNM game by their personal shareholdings;

4. credibility.

ESI have:

1. a brown coal treatment concept they want to licence to others, but at this stage, no one seems to want to buy;


yet the markets caps of the two stocks are pretty similar?

MNM also has potentially a billion tonnes of black coal (Mt Mulligan and Texas), potentially a million ounces of gold (Haunted stream, Granite Castle), and highly prospective phosphate and silver holdings.

MNM should be trading at 10x ESI's MC.