if MNM was a typical bandwagon jumping speccy controlled by directors out for short term capital gain they would be drilling the LV, not BM.
I still think MNM are doing what exergen want (and need) them to do at BM - providing THE ONLY pathway for exergen to comply with its 8 million tonne per annum off take agreement to send BCE to Tata Power in India which is scheduled to start in 2014.
In the entire LV landscape, involving hundreds of players with 'claim's' to be in the LV brown coal game, Tata are the group with the most money to spend on infrastructure (by a large margin), and the most incentive to spend it.
Tata are under pressure from Indian Govt directives to secure reliable and sufficient sources of thermal coal to keep the lights on in India over its key 20 years of rapid expansion ahead. Security of coal supply is a condition of Tata Power's lucrative Indian power supply licence from their Government.
They will move heaven and earth to secure BCE from anywhere on the planet. And Indonesia is now looking like a basket case on that front. Australia, through Victoria's world's best deposit of upgradeable and exportable lignite, is now front and centre with the Indians.
In the big picture view of all this there is one key player that exergen MUST keep on side for its BM and LV plans to remain viable - Tata.
the Vic Government also know this full well. They need Tata engaged in the LV and at BM as much as MNM and exergen do if they want to save a faltering economy, and secure their own future energy needs.
If all else fails, always back self interest to determine what politicians will do.
Fortunately for MNM/exergen, what is good for Ted is potentially sensational for MNM.
DYOR
MNM Price at posting:
11.4¢ Sentiment: Buy Disclosure: Held
