the reason i'll be not accepting the takeover

I bought REY for the leverage to a possibly massive coal play. I didn't buy many shares, but it was a punt... a real 100:1 type bet. If it works it could be the next FMG.

Such a script offer simply means that punters like me take on the same risk i.e. chance there is a large commecial mine, however taking on board a lower upside reward due to the massive dilution effect.

I wouldn't take cash either... I'm in this stock for the punt and I'll be saying a firm NO if I get a letter in the mail.