Nobel trying to steal this ... at zero cost

Please remember that Nobel are the world's largest coal trader.
As insiders in that business, they know that coal and iron ore prices have now bottomed.
RES probably has the highest quality 'undeveloped' world class coal deposit in the world.
The company is trading near cash backing with an open cut resource that is measured in billions of tonnes.
This would be a steal for Nobel.
The South African Government pension fund is the largest shareholder, and I don't expect them to sell under 22 (their cost) or to Noble.
I'm expecting some fireworks now with ASIC ASX involvement and ultimately a bid from Noble.
The longer they leave it, the higher the prices will need to be to get 50%+