Obes, you don't think that the Elf could have stumped up all the...

Obes, you don't think that the Elf could have stumped up all the cash for the CHTD cdp all by himself??

My guess is that some of the original investors in Exergen, like the inventors of chtd and Albrecht and the Elf, don't want their investment diluted too greatly by allowing Itochu and Tata to throw in big wads of cash for the cdp. If Tata and Itochu (and Thiess and Sedgman) build up big stakes and earn seats on the board then the great potential wealth that may eventually be created by Exergen with the worldwide deployment of their CHTD tech would be shared by the corporates not the private individual investors ( Albrecht and Elphinstone have the most to lose here).

It is for the above reason that IMO Exergen will not takeover Mantle, even at say 4 for 1 shares. Exergen's private holders wouldn't want to even dilute that amount just to secure the brown coal.