$50 million being spent to upgrade woolongong coal mines towards...

$50 million being spent to upgrade woolongong coal mines towards 2012 for export to INDIA ( on there own ships ) 7 million tons per year per year of the best coaking coal in the world their 17% plus holding i REY & their takeover offer of REY could still succeed in taking over REY if GNM share price was higher SAY $1.50..it should be noted that it was near $2 before the melt down.. interesting to see what happens next with the share price creeping higher.and other parties circling REY...eg...look at the number of shares RMS has purchased in their takeover offer of DIO when it looked like they had no hope.