Hmmm, imo yes and no.
As yes disappointing and no as it would only be opening bid as fmg can't be all bravado and try a knock out bid as might insult a player that has pretty big asset reserves to bring to the fight.
So ploy might be to test Hancock minings resolve without be insulting so 4.4c first bid see what Hancock do?
Ann: Replacement Bidder's Statement, page-223
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