Offer, page-58

http://www.universalcoal.com/investors/broker-reports/

Hi. Above  is the link to the detailed valuation of 56c and more.
Read it,  it makes very interesting reading and shows this company is
forging ahead in leaps and bounds with the results just about to come to fruition.
The directors should have sent just this to the bidder.
We don't want such frivolous bids distracting our massive progress
in moving the company forward under the very able management team.
The dividends may be 5c p.a. in two or three years  which would result in  a market value of
71c at a very respectable dividend yield of 7%.
There is no way this offer of 35c could be successful and I think everyone knows that including
the offeror.
I wont be selling my holding below 50c.