re: Ann: Recommended cash offer for takeover ... Street talk,...

re: Ann: Recommended cash offer for takeover ... Street talk, that is certainly what appears at this stage superficially.

But there may be more than what meets the eye.

In recommending this low ball bid, a floor has been set for counter-bids to surface.

The SIA does not allow EOC from solicting counter-bids but it also clearly states that EOC can receive approaches.

I am optimistic the big Coking coal players will be their hat in the ring. Rockwood is a prize the Chinese are after (not the thermal coal project).

I am very hopeful 38 cents may not be the end of the story.