gm resolutions, page-8

BWN has other quality coal tenaments too.

one with RCI for 40% intrest, two with bhushan 15 % and 10%.

Remaning all are 100% owned by BWN.

Now if BWN doesnot make JV for remaning coal assets with Bhushan and try to drill themselves from money from other JV's. I belive BWN will certainly be a target for Bhushan to Take over.

Bhushan is building coal fired power plants and coke furnace in India. Its demand for coal is huge. It needs all the coal. BWN can provide both thermal and Coke.

I think there might be relation between savni holding getting 12% on market after that Bowen is divided into two parts. Coal assets are made diffrent. This probably is working towards a takeover target.

Its just my opinion.