what's next for mnm

December 2010 Announcement -

"Mantle and Exergen Execute Binding Agreement.
Mantle Mining Corporation Limited (ASX: MNM) the Company, is
pleased to advise that it has executed the first binding agreement, the
Pre Joint Venture Agreement (Pre JVA), with Exergen Pty Ltd in relation
to the Bacchus Marsh Coal project in Victoria.
Exergen Binding (Pre JVA) Agreement Highlights:
Formalises and legally binds the parties to the principles outlined within the
Memorandum of Understanding (MOU),
Establishes processes for the formation of the first of the Substantive Agreements,
e.g. the Joint Venture Agreement (JVA),
Sets out agreement between the parties regarding (50 / 50) funding arrangements
for certain accelerated Pre JVA activities such as:
bulk sample drying trials at Exergen Beaconsfield pilot plant and subsequent
coal quality analyses,
detailed data basing and geological interpretation of pre-existing (numerous)
exploration drill holes data across the deposit area,
generation of pre-feasibility type intellectual property specific to the Bacchus
Marsh coal deposit, location and infrastructure.
Mantle's Bacchus Marsh Coal Project Highlights:
Mantle applied for Exploration Licence EL 5294 which contains the historic Bacchus
Marsh brown coal deposit. The deposit is located 50km west of Melbourne and a
similar distance north of the port of Geelong,
Based on a preliminary review of historic drill holes, including those drilled by CRA in
the mid 1980's, Mantle is of the view that EL 5294 could contain an exploration
target* of between 1 and 2 Billion tonnes of brown coal,
Mantle subsequently executed an MOU with Exergen to develop the Bacchus Marsh
coal deposit as a dried coal export project. Exergen's globally patented clean coal
technology, Continuous Hydrothermal Dewatering (CHTD), promises to deliver up to
40% emissions reductions from modern coal fired power stations.
Recent laboratory trials on a sample of Bacchus Marsh coal have successfully
reduced the run of mine (ROM) moisture content of the coal from 47% by over 90%
to a 5% moisture content briquette. A bulk sample is currently being sourced for
continuous pilot plant trials." ends

Several boxes now ticked. Soon should be "coal quality analyses"results which is a major factor IMO.

Boxes ticked -

* Bulk sample done
* Bacchus Marsh target update done
* EL 5294 Granted

All is going to plan with BM project so far and plenty more news should follow soon on it and some of the other strings in Mantle's bow(of which there are many). Looks like a good time to be topping up on the lows IMO.

Good luck holders

B Rubes