recent trading, page-8

RES's looking good. Today's AFR said that Indian LANCO Infratech successfully bid for Griffin Coal(Ric Stowe's collapsed WA empire).Peter Strachan,analyst,said:This is pretty poor coal,its not good material.It doesn't travel easily,can spontaneously combust due high level of pyrite. It just show how desperate the Indians are to get energy-producing assets.
Apparently they overpaid for a mine with low quality coal,but has vast reserves.And would need significant investment in rail and port facilities to get the coal to the subcontinent.
Makes you wonder if anyone is lining RES up for a T/O