Never a dull moment with MNM. The market received the wrong announcement on a weak day and shareholders reduced their holdings, it happens. I can not see anything wrong at all with starting the CSM planning and testing while drilling a JORC. CSM is as the announcement stated, cheap and quick to implement.
This cleaner energy solution is very exciting, and with the amount of coal they have they could be sitting on a heap of gas, equivalent to many barrels of oil but a lot cleaner. Another positive is that Mantle now own 100%.
If you seen stock sector performance over the last 6 months, some of the biggest % gains have been in the energy sector. Of course energy resource prices at record highs does help. I can see the headlines already "Clean Coal for Cairns" :)