buying at 30 cents, page-24

Quite amazing!

These are the top share Holders:

GUJARAT NRE COKE LIMITED ... 661,832,300
WONGA COAL PTY LTD ......... 371,296,193
GUJARAT NRE LIMITED ........ 127,500,000
HSBC LIMITED ............... 26,140,000
HSBC LIMITED-GSI ECSA ...... 20,166,469
HSBC LIMITED - A/C 2 ....... 19,563,387
NAROTTAMKA COMMODITIES P/L . 14,000,000
GUJARAT NRE COKE LIMITED ... 4,360,580
SATELLITE INDIA PTY LTD .... 3,138,783

I am sure the parent company, Gujarat & Wonga, are not the sellers. That leaves one of these two:
HSBC LIMITED or
NAROTTAMKA COMMODITIES P/L

With 6.6 milion sold so far, these are the only two with the amount of shares that could be selling.

I have bought some to take a position & will wait to see how much more they are unloading & how long it takes. I have no doubt that this is presenting a great opportunity for buyers who are prepared to pick these up at these prices. Once they have finished it is straight back up to 70 cents & then up as they increase production and coal prices improve.

cheers all