I think GNM still plays game in bid offer. They are trying to...

I think GNM still plays game in bid offer. They are trying to push SP of GNM hard to 57c while other coal stocks are falling down recently in ASX market. Even its parent indian company (BOM:512579) drops from 60 to 44 in June.

5 to 1 looks crazy, I think GNM has to increase their bid offer to 2 to 1, since the fair price for GNM should be around 45c in today's market, and 20c cash offer looks still cheap to REY.

Cheers