we have jorn, page-29

mrs b

if exergen intend to scale up their victorian operations to the level they have discussed with the Vic Govt (namely a $2 billion+ plant and infrastructure investment in the LV, and the planned 12 million tpa BM export project set for export in Q1 2018) then they will have to list.

the current partnership structure that owns exergen is not suited to optimising the large capex involved.

a listed entity has far more flexibility in regard to capital raising that a private firm through the issue of publicly listed and tradeable shares and options.

a public listing also provides an exit strategy for any partner or investor that participates in the development of what shapes up to be a multi billion dollar venture to exploit Victoria's 500 year supply of unused brown coal.

this is not possible as things stand because there is no easy way to sell or borrow against a stake in the exergen business.