At the end of March 2011 Mantle was granted Exploration Licence...

At the end of March 2011 Mantle was granted Exploration Licence EL 5294 at Bacchus Marsh in Victoria. Mantle is of the view that EL 5294 could contain 2 Billion tonnes of brown coal. Photos from the Maddingley Mine (in the centre of EL5294) posted 11/1/11 by MNM support that claim.

Exergen has developed a breakthrough clean coal technology that, teamed with modern coal-fired power station technology, will deliver up to 40% emissions reductions. The technology is known as Continuous Hydrothermal Dewatering (CHTD).

-Exergens cornerstone investors include;
o TATA Power, Indias largest private power utility, as major coal off-taker,
o Thiess (Leighton), the worlds largest supplier of outsourced mining services,
o Itochu, Japans 3rd largest trading house, extensive coal trading experience,
o Sedgman, a global specialist provider of mineral engineering solutions.

-Mantle and Exergen are finalising agreements leading to;
o A 50/50% Joint Venture for exploration and subsequent mine development,
o Exergen constructing a 50tph demonstration drying facility,
o Exergen developing an export project on its 50% of the coal deposit,
o Mantle being licenced to utilise CHTD on its 50% of the coal deposit.

-Mantle and Exergen to execute binding Substantive Agreements;
o an exploration Joint Venture Agreement (JVA), by August 2011,
o a CHTD Technology Licence Agreement (TLA), by August 2011,
o a Mine Development Heads of Agreement (HOA), by August 2011
o finalising the Mine Development Agreement (MDA), by August 2012

-Proposed major developments over subsequent years to include:
o commencing the drying demonstrator construction,
o full demonstration and taking an investment decision,
o commencing construction of Exergens Export Project.

This project timeline was outlined in August 2010. Since then mnm/exergen have done everything they have said they would do, and all steps taken to date have been successful, and have led to the next step in the above project timeline. in other words, MNM have not missed a beat on the BM project in more than 7 months.

the exploration JV is not due until August 2011, but given we know MNM started the drilling modelling several weeks ago it is safe to assume it will be finalised before then. this will be another significant milestone, and will attract more investors to the MNM/exergen story.

posters on HC who will try and mislead MNM holders, or potential MNM investors that the above facts should be ignored fall into the follwoing categories:

1. underwater ESI holders well aware that MNM's success will make life very difficult for ESI's aspirations to licence an alternate brown coal treatment concept;

2. anti coal crusaders;

3. the usual crew of clowns that get attracted to any successful stock and hope it fails because they were not quick enough to get in earlier.

DYOR.